the EUR/USD made a bullish retracement at 1.12 but remains in a very strong downtrend. The main trades are focused on the expected bearish movement. The GBP/USD is testing the bottom of the downtrend channel, which could create a bullish correction.
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The EUR/USD should resume the downtrend after making a bullish ABC correction. The main target for the downtrend is at 1.10 support.
The GBP/USD should also build a bullish ABC pattern and then decline towards the 38.2% Fibonacci level at 1.3150.
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