the EUR/USD is at key bearish breakout or bullish bounce spot. The GBP/USD is ready for a bullish ABC zigzag pattern back to resistance.
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The EUR/USD break below the 1 hour support could confirm a bearish wave 5 whereas a break above 1.1125 indicates the start of a bullish wave C.
The GBP/USD could be building a bearish ABC pattern as long as price stays below 1.3175. The alternative is a lengthy triangle pattern.
Check out the video below for the full analysis and trade plans on 5 – 7 Feb 2020: