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GBP/USD weakness continues by breaking weekly bottom

Discussion in 'Technical Analysis' started by FXStreet_Team, Feb 24, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
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    EUR/USD 4 hour The EUR/USD is approaching potential support levels like the Fibonacci retracements and trend line. This zone could turn out to be a zone where price will show a bullish bounce (if it breaks above resistance) or a bearish break (if it breaks below support). 1 hour The EUR/USD respected the Fibonacci levels of wave 4 (orange) and has turned bearish as part of wave 5. A break above the resistance trend line (orange) could indicate the completion of wave X (purple). GBP/USD 4 hour

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