EURUSD, GBPUSD break below strong support zones

Discussion in 'Technical Analysis' started by FXStreet_Team, Apr 14, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
    Likes Received:
    EUR/USD 4 hour The EUR/USD seems to have indeed completed wave C (blue) as indicated yesterday due to the bearish break of the support zone (greens). 1 hour The EUR/USD completed a wave B (blue) correction before breaking the support zone. At the moment price could be completing a bearish ABC (blue) or developing a new bearish impulse via a 123 (also blue). GBP/USD 4 hour The GBP/USD developed a bearish turn at the 78.6% Fibonacci level and price has also broken the support trend line (dotted

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