EUR/USD is testing support and likely to retest the 1.12 resistance. The GBP/USD is expected to build a triangle pattern.
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The EUR/USD break above 1.12 confirms the uptrend whereas a break below 1.11 indicates a deeper retracement towards 1.0950-1.10.
The GBP/USD bearish impulse indicates a zigzag pattern towards 1.25. Otherwise if the bulls keep control, then a triangle pattern is likely to take price up to 1.34.
Check out the video below for the full analysis and trade plans on 5 – 7 Jan 2020: