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GBP/USD and USD/JPY build pullback within downtrend

Discussion in 'Technical Analysis' started by FXStreet_Team, Feb 26, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
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    EUR/USD 4 hour The EUR/USD made a bullish bounce at the 61.8% Fibonacci retracement level and support trend line (green). A break below support could see price fall towards the 78.6% Fibonacci level. A break above resistance (red) could see price move towards Fibonacci targets (Y vs W). 1 hour The EUR/USD break above the resistance trend line (orange) could indicate the completion of wave X (purple). GBP/USD 4 hour The GBP/USD is making a bullish retracement within the bearish trend. A

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