The EUR/USD is testing critical support and resistance levels around the 21 ema zone. A bullish breakout could see a last push towards the target zone at 1.1750 – 1.1775 whereas a bearish break indicates a bearish reversal. The GBP/USD is showing strong bullish momentum and is likely to show a new high as long as it stays above the 50% Fibonacci retracement level. Make sure to check out our free Wave and Fibonacci guide.
EUR/USD has either completed a bullish wave A or will still make one more push towards the key target zone. Once a bearish wave B starts, it is not expected to move deeper than 1.15 where there is a 50% Fib and potential starting point for wave C.
GBP/USD is expected to move up for a higher high after a chart pattern correction. This could complete a wave 5 and a bearish bounce could take place at the main Fibonacci targets.
Check out the video for the full analysis and trade plans on 30-31 August 2018: