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EURUSD and GBPUSD bearish break with bullish bounce

Discussion in 'Technical Analysis' started by FXStreet_Team, Feb 19, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    EUR/USD 4 hour The EUR/USD approached the 50% Fibonacci level. A break above resistance could see build a potential breakout. If it fails, then a bigger bearish retracement could commence. 1 hour The resistance trend line (orange) could behave a bounce or break spot. GBP/USD 4 hour The GBP/USD respected the 78.6% Fibonacci level. Price needs to break resistance trend line (orange) before the chances of a wave Y (blue) developing increase. 1 hour A break below the 100% Fibonacci level

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