The EUR/USD, GBP/USD seem to be completing bullish ABC zigzag patterms. Any bearish retracement is expected to find support and a bullish continuation towards the main targets at 1.1850 (EUR/USD) and 1.34 (GBP/USD).
The EUR/USD is moving higher within a 5th wave of wave A and aiming for the Fibonacci targets. Any bearish retracement could be part of a wave B after which one more bullish wave C is expected.
The GBP/USD is either in a bearish wave B or bullish wave C, which depends on whether price is able to break above the resistance zone. The GU is also expanding a bullish ABC pattern similar to the EUR/USD.
Check out the video for the full analysis and trade plans on 17-18 July 2018:
Good trading,
Chris Svorcik
.
Leave a Reply