The EUR/USD is building a wave 4 pattern within a downtrend and could be aiming for a target around 1.14 and perhaps 1.13. A bounce at 1.14 or break above 1.1550 could start a new bullish rally. The GBP/USD is probably in a wave 1-2 but the correction could see an expansion. Check out our education & research page at ECS.
EUR/USD is probably completing a bearish wave A and could soon be ready for a bullish wave B unless price breaks below 1.14 and 1.13 support levels.
GBP/USD is probably in a bearish wave 1-2 pattern which becomes confirmed if price breaks below the bottom. A break above the top invalidates this wave pattern and makes an expanded wave 4 pattern more likely.
Check out the video for the full analysis and trade plans on 9-10 Oct 2018: