the EUR/USD broke below the 1.11 critical support zone and is now showing a bearish breakout and downtrend continuation. The GBP/USD made a bearish bounce at the 50% Fib at 1.2250 and is likely to continue lower towards 1.20.
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The EUR/USD showed a strong bearish monthly candle in July and is likely to aim for targets at 1.10, 1.09 and 1.08.
The GBP/USD made a bearish breakout below the 21 ema zone and is now most likely awaiting a pullback before falling further.
Check out the video below for the full analysis and trade plans on 1-2 August 2019:
EUR/USD, GBP/USD technical analysis
Review of patterns, trends, key S&R levels
Explanation of potential trade ideas both up and down
Beginner friendly, explaining concepts in more detail
EUR/USD, GBP/USD video:
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