the EUR/USD is in a downtrend but price action is showing a falling wedge pattern with triple divergence. A reversal might appear here or at 1.15. The GBP/USD could make one more bearish swing to test the previous bottom.
The EUR/USD bullish outlook is invalid if price action breaks below the bottom at 1.1660. In that case, a price decline towards 1.1575 and 1.15 is expected.
The GBP/USD break below the bottom at 1.3575 could indicate a push lower towards 1.35 and 1.34. A bullish bounce remains a retracement as long as price stays below the long-term moving averages.
Check out the video below for the full analysis and trade plans on 22 – 24 August 2021: