the EUR/USD is facing strong support at 1.0950, which is a key bounce or break spot. The GBP/USD bears pushed price lower but the pair remains in a large correction.
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The EUR/USD bulls must defend 1.0950 and break above 1.10 if they want to confirm a 5th wave. A break below the 144 ema could send the EUR/USD back down to test the previous bottom but the last week’s weekly candle is suggesting more upside.
The GBP/USD is testing support levels and is likely to make a bullish bounce at 1.2280 or 1.2225 for a larger bullish correction.
Check out the video below for the full analysis and trade plans on 7 – 9 October 2019: