GBP/USD Expands Channel and USD/JPY in Final Wave E


4 hour

The EUR/USD is approaching a bullish break or bearish bounce spot at the resistance trend line (purple).

1 hour

The EUR/USD upside momentum proved to have bigger candles than the downside momentum after it which is why the count has been labeled wave A (orange) and wave B (orange). A break of the purple trend line could indicate the potential for price to reach C vs A targets, whereas a break of the green trend line could indicate the potential to reach wave B retracements.


4 hour

The GBP/USD pushed up one more time yesterday which seems to complete waves 5 of 3 (green). In the bigger picture this could be part of an ABC (blue) zigzag.

1 hour

A retracement for wave 4 (green) could occur back to the confluence of the previous wave 4 (orange), the trend channel bottom and the 23.6% Fibonacci level.


4 hour

The USD/JPY has probably completed wave D (magenta) when looking at the typical range in terms of time (D vs B time Fibs). A break of the support trend line (blue) could propel price down for the wave E (magenta).

1 hour

The USD/JPY is in a bearish channel (magenta) but also near support (blue). 

Intro to Forex

Get this eBook if you would like to learn more about Foreign Exchange basics and find out how Forex markets work.


Learn more about Forex Trade and Trading in Australia with us!