The EUR/USD broke the internal resistance trend line (dotted orange) and made a move up to the 38.2% Fibonacci level of wave B (blue). Price is now challenging the long-term support trend line (green). A bearish break below support could the continuation of wave C (blue) or alternatively a wave 3. A bullish break above resistance (red) could price move towards the 50% Fib.
The EUR/USD is in a contracting triangle. Whether the wave B (blue) is completed depends on whether price can break below the wave B vs A Fibonacci levels. A bounce at support could see price rally via an ABC (green) within wave B (blue).
The GBP/USD is respecting a long-term key support trend line (green). A break of the support trend line would confirm the downtrend on the GBP/USD whereas a break of the 2 resistance trend lines (orange-red) could indicate the start of bigger correction within wave B (pink). The ABC could also turn out to be a 123 if price can break below the long-term trend support (dark green).
The GBP/USD is in a contracting triangle and channel at the same time. A bullish break above resistance (red-orange) could expand the correction within wave B. For the moment price might use the Fibonacci levels of wave X (green) to enlarge the correction, just like it yesterday when the wave Y (green) bounced at the trend line towards the 38.2% Fibonacci level.
The USD/JPY break above the 161.8% Fibonacci target favors a wave 3 (purple) whereas a bearish break below the support trend line (blue) makes a wave C (pink) more likely.
The USD/JPY indeed bounced at the 50% Fibonacci level. Whether wave 5 has been completed depends if price breaks below the origin of wave 5 at 108.30 or whether there is a bullish break above resistance (orange).Publication source