Elliott Wave Analysis On EURUSD And GBPUSD
EURUSD is falling nicely for the last few days, so we see more and more evidences that leg down from Friday, from 1.1340 can be wave three as part of a bearish impulse. As such, we think pair may hit 1.1080-1.1100 area soon from where a new corrective bounce up into wave four may show up.
GBPUSD moved nicely up into wave c of B, towards 1.3150 area where market might have already accomplished a corrective rally for wave B. If that's the case then break through 1.3080 swing low is now coming which may open road for wave C decline beneath 1.3060 and towards 1.3000 psychological level.