Currency pair EUR/USD
The EUR/USD could be in a wave B (purple) bearish retracement If price is able to break below the support trend line (blue). A bearish breakout could see price fall and challenge the Fibonacci levels of wave 2 vs 1 (pink).
The EUR/USD break below support (blue) could see price fall towards the Fibonacci levels of wave 2 (pink). A break above the resistance trend line (red) could indicate an extension of wave 1 (pink), although new resistance levels are nearby (red lines).
Currency pair USD/JPY
The USD/JPY has made another higher high within the uptrend channel and therefore a new bullish pattern (wave 3) seems more likely at the moment than an extended WXY correction within an uncompleted wave 2 or B (light purple).
The USD/JPY will need to break above the resistance (red/orange) now or later to confirm the wave 3 pattern (purple).
Currency pair GBP/USD
The GBP/USD could be in a wave 1-2 (green) unless price breaks below the 100% Fibonacci level of wave 2 vs 1. The broken resistance (dotted red) level is equal to the 61.8% Fibonacci support level.
The GBP/USD is in a bearish trend channel and could be building a wave C (blue) within an ABC (blue).
