4 hour
The EUR/USD bullish breakout within the uptrend is now building a sideways retracement. The consolidation zone is most likely just a correction before the bullish trend continues towards the Fibonacci targets of wave 5 (blue).
1 hour
The EUR/USD bullish impulsive price action is best explained by the development of a wave 3 (orange). The shallow correction is probably a wave 4 (orange) which could either retrace to the Fib levels or break above the resistance (red).
4 hour
1 hour
Origin: Admiral Markets