The EUR/USD is building on an uptrend and has potential space up towards Fibonacci target and resistance at 1.1040-60.
The 1 hour chart shows the bullish channel (blue) and intermediate support (green). The EUR/USD will most likely continue with this trend and head towards Fib targets. Key level is the bottom of wave Y (green) at 1.0820.
The GBP/USD has broken above the top and resistance (red line turned green) and the Cable remains solidly in uptrend. A pullback could occur but trend line support (blue and green) and Fib levels (38.2%) are nearby.
The GBPUSD has divergence between the tops, which increases the chance of a pullback for wave B (orange)
The USD/JPY remains in a major consolidation and is now approaching bigger support (green line) which is a bounce or break spot. The resistance trend lines (orange/red) could contain a bounce whereas a break could see price head towards the wave 23.6% Fib at 117.10.
The USD/JPY could be completing an ABC (blue) zigzag but is at the moment in a wedge (see red and green lines).
Twitter: @elitecurrensea
PLEASE NOTE: THE UPDATE IS POSTED WITH PERMISSION FROM WWW.ADMIRALMARKETS.COM
read the original article on AdmiralMarkets.com
Thank you