Currency pair GBP/USD
The GBP/USD bullish channel (red/green) has reached the top of the channel (orange) and the resistance of the sideways range (red). A breakout above the resistance could indicate a new uptrend whereas a bearish bounce could see price fall back to the bottom of the channel.
The GBP/USD has reached a key decision zone for a bearish bounce or bullish breakout.
Currency pair EUR/USD
The EUR/USD broke above the resistance trend line (red) which seems to be part of an uptrend continuation within wave 5 (purple).
The EUR/USD is probably building a wave 5 pattern (blue) within wave 5 (purple).
Currency pair USD/JPY
The USD/JPY is in the bearish channel which has reached potential support level at the 50% Fibonacci.
The USD/JPY bearish breakout saw price fall towards the bottom of the bearish channel.
