GBP/USD ABC zigzag break above resistance

Discussion in 'Technical Analysis' started by FXStreet_Team, Jan 27, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
    Likes Received:
    EUR/USD 4 hour An EUR/USD break below the support (green) trend line could see price fall towards the Fibonacci levels of wave X vs. W. A break above the resistance (orange) trend line could price move towards the Fibonacci targets of wave Y vs. W. 1 hour The EUR/USD bounce at support on the 4 hour chart could cause an ABC bullish zigzag (blue). GBP/USD 4 hour The GBP/USD has broken above various resistance levels (dotted reds). Price seems to be correcting the downtrend via a WXY (green) as

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