The escalation of US-Russian tensions over Ukraine and hawkish Feds policy is worrying for investors which are moving into cash. We see a sharp sell-off on the stock market which may try to stabilize, but technically weakness appears incomplete. If risk-off will resume, then be aware of more JPY and USD strenght.
EURUSD is trading south with nice five waves down to 1.1300 so more weakness will be expected after a three-wave structure. We are talking about a-b-c that can stop at 1.1360/70 resistance.
EUR/USD 1h Elliott Wave analysis
Cable is coming nicely to the downside, into the third leg of a retracement, which can be wave C but even this one must be made by five sub-waves so be aware of a retest of the lows while the market is below 1.3544.
GBP/USD 1h Elliott Wave analysis