the EUR/USD made a strong bearish breakout and impulsive price swing within the expected wave 3. Now a shallow pullback and continuation will probably take place in wave 4. The GBP/USD also showed a bearish breakout within a wave 3 and is expecting a wave 4-5 pattern too.
The EUR/USD is expected to test the shallow Fibonacci retracement levels like the 38.2% Fib within the wave 4. A bearish bounce is expected to push price action for a new low.
The GBP/USD should follow the same pattern and show two more lower lows before finding a potential strong support zone.
Check out the video below for the full analysis and trade plans on 21 – 22 June 2021: