the EUR/USD is breaking above the 21 ema zone after completing a bearish ABC flat correction. The GBP/USD is making a bearish reversal at the previous top.
The EUR/USD seems to be ready for one more wave 5 in a wave 5 of C of a larger bullish ABC zigzag. The main target zone is 1.2275-1.2350 where a bearish reversal could take place. The bulls remain in control as long as price action stays above 1.2175.
The GBP/USD bearish breakout seems to be aiming at the 1.40 round support level. There a bullish ABC correction could take place.
Check out the video below for the full analysis and trade plans on 24 – 25 May 2021: