The USD is bullish across the board, and now finally turning up against GBP as well. We see that the falling cable already took out 1.6280 for a few pips which means that wave (ii)/(b) is done and that the price could go straight down towards 1.6200. 1.6350 is now invalidation level.
GBPUSD 1h Elliott Wave Analysis
EURUSD is also in an extended decline now hit 261.8% Fibonacci extension target of wave (ii), where wave (iii) could look for a support if we consider the fact that leg from 1.2900 can already be counted in five waves. With that said, a new correction could follow in sessions ahead, up in wave (iv) to 1.2770.
EURUSD 30min Elliott Wave Analysis
