EUR/USD is approaching the key support zone at 1.1750 after building a bearish ABC zigzag pattern. The GBP/USD is showing a strong bearish reversal.
The EUR/USD is approaching the key support zone at 1.1750 after building a bearish ABC zigzag pattern. The GBP/USD is showing a strong bearish reversal and is expected to decline further down.
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EUR/USD & GBP/USD Overview
The EUR/USD is expected to make a bullish reversal at the key support decision zone but a breakout above the moving averages remains critical.
The GBP/USD is looking to test the support trend line again, which could create a larger triangle chart pattern. The breakout direction should be bearish.
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