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GBPUSD Prepared for Bullish Wave 5 Breakout

Discussion in 'Technical Analysis' started by FXStreet_Team, Oct 19, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    EUR/USD 4 hour Whether the EUR/USD completed its bullish price action and thereby wave 2 or wave B (greens) depends on whether price is able to push below the various layers of support (green trend lines). 1 hour The EUR/USD is in a mini triangle chart formation (red / green lines). It has wave 2 resistance Fib levels above it and support trend lines below it. At the moment a bearish turn seems the most likely wave count (current 1-2 orange). GBP/USD 4 hour The GBP/USD has not managed to break

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