The next EUR/USD wave will depend on the price reaction at the 21 ema zone. A bullish breakout could indicate a 5th wave whereas a bearish move could indicate a zigzag pattern. The GBP/USD has the same key decision at the 21 ema zone. Overall, the GU could still be a in wave 4 but a break above the top makes a bull move more likely.
EUR/USD either building a bearish wave 4 and will make a new high as part of wave 5 or price has already completed a bullish ABC and is now ready for a bearish ABC.
GBP/USD faces the same situation after it bounced at a critical 38.2% Fibonacci retracement level.
Check out the video for the full analysis and trade plans on 23-25 August 2018:
Good trading,
Chris Svorcik
Elite CurrenSea
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