Dear Traders,
the EUR/USD is likely to continue with its bearish correction within the larger bullish consolidation pattern. The GBP/USD uptrend could show one more higher as long as price stays above 1.4140 support.
The EUR/USD is building a lengthy consolidation pattern which is most likely a bearish wave 4 as long as price stays above 1.2125. Eventually a bullish wave 5 is expected but more bearish corrections and trade setups could develop next week before EUR/USD finds a stronger support zone.
The GBP/USD uptrend was expected but the momentum seems to remain strong. A bullish continuation after a bearish wave 4 pullback could take place as long as price stays above the 50% Fib support zone at 1.4140.
Check out the video for the full analysis and trade plans on 14-16 April 2018:
Good trading,
Chris Svorcik
Elite CurrenSea
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