The EUR/USD bearish momentum is challenging a key support zone at 1.15. A bearish breakout could indicate a continuation but a large weekly 50% Fib remains key at 1.1450. The GBP/USD however did break the previous bottom and is in a wave 3 bearish momentum. A wave 4 pullback seems to be the best trade setup once price retraces back to the 21 ema zone.
The EUR/USD is a key bounce or break spot. A bearish breakout below 1.15 however only offers space to 1.1450, which is the next critical bounce or break spot. A bullish bounce needs break above the 21 ema on the 1 hr chart.
The GBP/USD downtrend broke below the key bottom at 1.31 and is now building a bearish wave 3. The GBP/USD invalidated the bearish ABC with that break and is now looking for a wave 4 retracement back to the 21 ema for a continuation lower.
Check out the video for the full analysis and trade plans on 28-30 June 2018: