Currency pair EUR/USD
The EUR/USD is moving sideways after failing to break above the previous top (red). A bullish breakout could however restart the uptrend towards the Fibonacci targets of wave 5 vs 1+3 and the round level of 1.15.
The EUR/USD expanded the wave 4 (orange) correction back to the 50% Fibonacci level. The wave 4 (orange) becomes unlikely if price breaks below the 61.8% Fibonacci level.
Currency pair USD/JPY
The USD/JPY is moving higher in a neat bullish trend channel towards the Fibonacci targets of wave 5 vs 1+3. Price could extend the uptrend towards the Fibonacci levels of wave X vs W.
The USD/JPY retraced back to a support trend line (blue) within a wave 4 (light orange) correction within wave 3 (pink). Price could now be in a wave 5 moving towards the Fib targets at 114.50 and 115.
Currency pair GBP/USD
The GBP/USD retraced to deeper Fibonacci support levels of wave 4 vs 3 (orange). A bullish bounce could confirm the wave 4-5 (orange).
The GBP/USD seems to have completed an C (grey) bearish zigzag within wave 4 (orange). A break below the 61.8% makes a wave 4 structure less likely.
