the EUR/USD bearish momentum is challenging a key support zone at 1.21-1.22 whereas the GBP/USD could be ready for a wave A or bear flag pattern.
The EUR/USD will either break or bounce in this key zone. A bearish breakout is best measured with a daily candle and could indicate a a new downtred whereas as a bullish bounce needs to show a 5 wave pattern otherwise the revival of the bullish wave 5 could be in trouble.
The GBP/USD is starting a larger downtrend and could extend its bearish momentum after a bear flag pattern appears on the 1 hour chart. Bullish momentum however indicates the end of the bearish 5th wave and the start of a larger bullish ABC correction which can take price up to 1.41-1.42.
Check out the video for the full analysis and trade plans on 24-25 April 2018: