GBPUSD 4h Elliott Wave Analysis
GBPUSD moved to a new swing low yesterday and tested the lower side of a trading channel. We still see move from 1.6822 as a corrective pullback so ideally market will turn bullish in the next few days. An impulsive rally and a daily close price above 1.6665 will put this market back in bullish mode.
USDJPY reversed strongly to the downside last week, away from 103.74 high. A decline is very strong and sharp with current price already at the lower side of a trading channel. We see that leg down as an impulse in progress so we assume that a corrective rally from 100.74 to 103.74 is completed and that price is heading to new lows, possibly even to 100 area in the next couple of trading days.
USDJPY 4h Elliott Wave Analysis