Good day traders!
GBPUSD is steadily approaching the lower channel line and the lower swing low at 1.31002 level, where a break would indicate even more weakness. Maybe a five-wave fall can follow.
GBPUSD, 1H
Cocoa made a three-wave bearish move down from 2156 level. We labeled it as a three-wave a)-b)-c) move that is now regarded as completed, because of a sharp, impulsive rise in five-waves. Resistance for the unfolding red wave i) can be found a little above the upper channel line, from where later a new minor three-wave correction can follow, into wave ii).
Cocoa, 1H
