The EURUSD has sold-off during Asian hours following announcement that ECB will no longer accept Greek government bonds from banks seeking funding. EURUSD is down and extended a decline from that 1.1500-1.1540 resistance. However, despite weak prices we do not see five waves down yet, so we need to be patient and firstly see wave 1 in place, before we may consider any shorts in upcoming wave 2.
EURUSD 1h Elliott Wave Analysis
GBPUSD is also showing a three wave rise from 1.4948, but there is room for more upside within the current wave C) that can reach levels around 1.5300 before we may finally look for a bearish turn. A current slow move around 1.5200 looks like a wave 4 within wave C) so coming new leg up can be final within a contra-trend rally from Jan 23rd.
GBPUSD 1h Elliott Wave Analysis
