The EUR/USD broke above the resistance trend line (dotted orange). This bullish break seems to have started a potential wave 3 (blue) of 3 (purple).
The EUR/USD could be building a mild retracement within a shallow and corrective wave 4 (orange) pattern. The Fib levels of wave 4 vs 3 could act as support and bouncing levels.
The GBP/USD seems to have completed a wave 4 (green) retracement and is continuing with its strong uptrend. But price is now approaching the previous top (red), which is an area where price can temporarily pause or reverse.
The GBP/USD could be building a wave 4 (grey) retracement. The Fib levels of wave 4 vs 3 could act as support and bouncing levels.
The USD/JPY downtrend broke key support levels but is now building a bullish correction. The resistance trend lines (red) are a key decision zone for a bigger reversal or downtrend continuation.
The USD/JPY could be building a wave 2 correction after breaking above resistance (dotted orange).
Chris SvorcikP.S. Don't forget to follow Admiral Markets on Facebook – or @AdmiralMarkets on Twitter – for the latest market updates.