GBP/USD Expands Channel and USD/JPY in Final Wave E

EUR/USD

4 hour

The EUR/USD is approaching a bullish break or bearish bounce spot at the resistance trend line (purple).

1 hour

The EUR/USD upside momentum proved to have bigger candles than the downside momentum after it which is why the count has been labeled wave A (orange) and wave B (orange). A break of the purple trend line could indicate the potential for price to reach C vs A targets, whereas a break of the green trend line could indicate the potential to reach wave B retracements.

GBP/USD

4 hour

The GBP/USD pushed up one more time yesterday which seems to complete waves 5 of 3 (green). In the bigger picture this could be part of an ABC (blue) zigzag.

1 hour

A retracement for wave 4 (green) could occur back to the confluence of the previous wave 4 (orange), the trend channel bottom and the 23.6% Fibonacci level.

USD/JPY

4 hour

The USD/JPY has probably completed wave D (magenta) when looking at the typical range in terms of time (D vs B time Fibs). A break of the support trend line (blue) could propel price down for the wave E (magenta).

1 hour

The USD/JPY is in a bearish channel (magenta) but also near support (blue).

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