the EUR/USD and GBP/USD are showing shallow bearish corrective patterns which could indicate potential bullish breakouts.
The EUR/USD is showing bullish momentum after it broke above the bearish trend channel. The bullish breakout could run into trouble when approaching the Fibonacci levels of a potential wave B. A bearish reversal could see price drop down to test 1.2150 support zone whereas a break above these Fibs at 1.2350-1.2450 could indicate a larger uptrend.
GBP/USD is also in an uptrend but the momentum is becoming overstretched. The trend however can last longer than reversal traders imagine and a continuation push towards 1.42-1.43 is possible if enough momentum is present.
Check out the video for the full analysis and trade plans on 10-11 April 2018: