The EUR/USD is failing to break above the previous top at 1.25 but will this lead to a bearish reversal? This video explains that a bullish continuation still has better odds as long as price stays above the critical invalidation level. The bullish trend is most likely building a wave 4 correction, which could indicate a wave 5 continuation towards the -27.2% Fib target at 1.27.
The GBP/USD is building a similar ABC zigzag correction or triangle chart pattern. A bullish bounce above the support zone could indicate a wave 4 pattern as well.
Check out the video for the full analysis and trade plans on 4-5 February 2018: