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GBPUSD

GBPUSD moved down to 1.4117 level where the pair can be looking for a support as a decline from the high is made by five waves. Ideally it represents wave C) of B-circled so a new bullish impulse would be expected, but as always we need to focus on minimum projections which means three legs up back to the 1.4200-1.4280 area.

GBPUSD, 1H

GBPUSD 1

EURJPY

EURJPY moved down this week but till now only with three legs, so we see it as a corrective wave. It’s wave B) as part of a complex correction that may continue up into wave C) of Y. We would not be surprised if the price will recover up to around 128.00 area.

EURJPY, 1H

EURJPY 1