the EUR/USD is moving sideways after bouncing at the 78.6% Fibonacci level. a bearish breakout is now more likely but will need to push below 1.10. The GBP/USD is likely to keep building a sideways correction.
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The EUR/USD is needs to break above 1.1125 before a bullish reversal is possible. If the price, however, still breaks down lower, then the 88.6% Fib at 1.1050 could still act as a potential support zone, just like 1.10 and 1.1025.
The GBP/USD is likely to move up towards the 144 ema on the 4 hour chart at 1.2250, which is a strong resistance zone.
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