Currency pair EUR/USD
The EUR/USD bearish price action could be part of a potential wave 4 (blue) which makes the 23.6% Fibonacci level a potential support and bouncing spot.
The EUR/USD seems to be making a final wave 5 (grey). Price might not complete the wave 4 (blue) at the 23.6% Fibonacci. A 38.2% Fibonacci level is also a common turning spot for a wave 4.
Currency pair GBP/USD
The GBP/USD could soon test the 38.2% Fibonacci level of the potential wave 4 (blue). The Fibonacci levels could act as potential support for a continuation of the uptrend via wave 5
The GBP/USD is breaking support trend lines but the 38.2% Fib could be a potential support level. A break of resistance (orange/red) could indicate the continuation of the uptrend whereas a break below the 38.2% Fib could price test the 50% of wave 4 vs 3.
Currency pair USD/JPY
The USD/JPY has broken above the resistance trend line (dotted red) which is indicating an uptrend continuation.
The USD/JPY break of resistance levels (dotted red) indicates a larger 5th wave (blue).
