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.
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.
Check out the video below for the full analysis and trade plans on 29 Nov – 3 Dec 2021: