the EUR/USD, GBP/USD are building bullish pullbacks within the downtrend as long as price stays below the Fibonacci resistance levels. EUR/USD could aim at 1.18 whereas GU at 1.35.
The EUR/USD is likely to continue with the downtrend as long as price stays below the 50% Fib resistance at 1.2075. The downtrend channel is expected to remain intact and a bearish continuation could take price down to the 6th wizz level at 1.1750-1.18.
The GBP/USD downtrend could also be building a bullish retracement and a continuation towards 1.35 is likely as well. However, the 1.35 support zone could become a new critical bounce or break sport and a reversal for a bullish ABC could take place at that spot.
Check out the video for the full analysis and trade plans on 3-5 May 2018: