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GBPUSD bearish break exception among contracting triangles

Discussion in 'Technical Analysis' started by FXStreet_Team, Mar 16, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    EUR/USD 4 hour The EUR/USD continues to move sideways in a contracting triangle chart pattern. A break below the bottom of wave X (blue) invalidates the current wave count. A break above resistance (orange) could see the start of wave C (green). 1 hour The EUR/USD has stopped at the 38.2% Fibonacci and could the same with other retracement levels. A break below support (green) could see price fall towards a lower Fibonacci retracement level and also make a potential bullish bounce. GBP/USD 4

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