Elliott Wave Analysis On EURUSD And GBPUSD
US markets are open for trading. EURUSD is continuing to go lower and this might accelerate soon in the black wave 3 to the downside. This means we are going to see decent lower levels in this pair soon below 1.12 mark.
Invalidation levels is at 1.13476- as long as it holds we are looking for weaker prices.
On the intraday chart of GBPUSD we are observing an idea of a zig-zag pattern, labeled as waves A), B) and C), with now price trading in it's last leg. We believe that, if price trades above 1.4480 level, than this could indicate higher prices ahead and rather than wave C), we would label this sharp action to the upside as wave 3), the most powerfull wave in a five move cycle.
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