the EUR/USD is testing the last support Fibonacci level of wave 4, which is a key decision zone for a bearish reversal or bullish continuation. The GBP/USD needs a bullish or bearish breakout before a new trend can emerge.
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The EUR/USD bearish breakout below 1.1060 indicates more bearishness towards 1.10 and 1.0940, which are the next decision zones. A bullish breakout is aiming at 1.1250.
The GBP/USD bullish breakout is aiming for 1.3250 whereas a bearish breakout is aiming for 1.25-1.26.
Check out the video below for the full analysis and trade plans on 28 – 30 October 2019: