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EUR/USD, GBP/USD Break Support Lines And Build Wave-4 Corrections

Discussion in 'Technical Analysis' started by Kaitlin, Aug 8, 2016.

  1. Kaitlin

    Kaitlin Forum Member

    Aug 29, 2015
    Likes Received:
    The GBP/USD completed a wave 4 (grey) pullback as expected and then broke support levels (dotted green) to complete wave 5 (grey) of wave 3 (blue). The 4 (blue) retracement is expected to stop at shallow Fibonacci levels. A break above the 61.8% makes the current wave count unlikely.[​IMG]

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