Hi Traders, the EUR/USD made a bullish bounce at the 61.8% Fibonacci level which is confirming a triangle chart pattern. The GBP/USD had another bearish break and is in a strong downtrend.
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The EUR/USD seems ready to build a bullish ABC pattern, which could complete a wave E of a the triangle pattern. A bearish breakout below the support trend line could confirm the downtrend continuation whereas a break above the 1.1250 resistance zone could indicate a bullish move up to 1.13-1.1350.
The GBP/USD bearish momentum remains strong and could be aiming for the 1.2750 round level. So far multiple bear flags have broken south.
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