the EUR/USD is expected to test the bullish target zone at 1.1850-75 again, but then make a bearish retracement. The GBP/USD could make a new high too at 1.3850.
The EUR/USD could make a bearish pullback after hitting the target zone. The Friday news event could be a trigger for a long-term breakout above 1.19 resistance or below 1.17 support.
The GBP/USD is also waiting for a clear breakout on higher time frames. A push above 1.3850 is bullish whereas a break below 1.37 is bearish.
Check out the video below for the full analysis and trade plans on 1 – 3 September 2021: