EUR/USD

4 hour

The EUR/USD bounced and rallied from the wave X (purple) support levels, which could indicate the potential start of wave Y (purple).

1 hour

Price is facing a break or bounce spot at the resistance trend line (orange).

GBP/USD

4 hour

The GBP/USD recently bounced at the 50% Fibonacci level as part of wave X (orange) but has not been able to break above resistance (red).

1 hour

The GBP/USD completed an ABC correction within wave B (magenta) recently before bouncing up higher. Price is now at a break or bounce spot at the resistance trend line (orange).

USD/JPY

4 hour

The USD/JPY is continuing its ABC correction (purple) after failing to break above the top of wave X (green).

1 hour

Price action broke below the support levels (green) as a continuation of the ABC pattern (purple).

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Please note that the update is posted with permission from Admiral Markets
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