Elliott Wave Analysis: EURGBP and EURJPY
We see five waves down on EURGBP with recent decline to 0.8370 area, which can be wave five of this bearish cycle. Notice that market made a small bounce from the low which looks like an impulsive reaction, so new recovery can be in play for 0.8578 resistance.
If stocks will continue higher next week, then interesting trades may show up on some JPY crosses. Below we have EURJPY which can be ready for a pullback lower into wave 4, into the area of a former wave four. Ideal support zone on a three wave set-back is at 119.30.