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GBP/USD Breaks Support and Accelerates Bearish Trend

Discussion in 'Technical Analysis' started by FXStreet_Team, Jan 18, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
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    EUR/USD 4 hour The EUR/USD completed a bullish ABC (green) zigzag which pushed through resistance (orange) without breaking it. Price is now making a bearish correction but as long as price stays above the trend line support (green), then an expansion of a wave WXY (blue) seems the most likely. 1 hour The EUR/USD could be making an ABC bearish zigzag (green) back to support (green). GBP/USD 4 hour The GBP/USD broke below the large sideways zone (dotted green) and posted a new lower low within

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