GBP/USD pulls back to bottom resistance via ABC zigzag

Discussion in 'Technical Analysis' started by FXStreet_Team, Mar 3, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    EUR/USD 4 hour The EUR/USD has been moving slowly this week with a tight range (purple). Deep Fibonacci support levels could still remain important for a pause or bullish bounce. The wave count is vulnerable to change if price breaks below these levels. 1 hour The EUR/USD could have completed the 5th wave (pink) of an ABC bearish zigzag (orange). Price is challenging resistance (red) and a break could confirm the bullish ABC (pink). GBP/USD 4 hour The GBP/USD is expanding the wave 4 (pink)

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