MY THOUGHTS ON GBP/USDIn my analysis on the 2 HOUR CHART, price is moving BEARISHLY, forming a Barrier Triangle Ending Diagonal. Price is currently at 1.25498, I forecast that Wave A may move to price 1.23957 which is 100% of Wave A. Then to price 1.23013 which is 1.50% of Wave A. and finally to price 1.22800 which is 1.618% of Wave A. I used the Elliott Wave and Fibonnaci for my analysis. FX:GBPUSD
Barrier-triangle
NZDUSD: Key Resistance at 0.6436 - Barrier Triangle PossiblePrice may yield a rather interesting structure - a barrier triangle. For this to materialize, two things need to happen: (1) Price must respect key resistance at 0.6436 and, (2), the formation of wave E in the triangle must not overlap wave C, as this will be the invalidation point if the triangle plays out. We don't yet have a buy setup. Stay out and wait for confirmation.