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EUR/USD Respects 50% Fibonacci Level of Wave B

Discussion in 'Technical Analysis' started by Kaitlin, Dec 30, 2015.

  1. Kaitlin

    Kaitlin Forum Member

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    The GBP/USD corrected up to the 23.6% Fibonacci retracement level of wave 4 (blue), which could have already completed the correction. However, waves 4 are typically very long and often have large consolidations. This bearish price action could still turn out to be part of wave 4, unless price manages[​IMG]

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