both the EUR/USD and GBP/USD are moving lower with strong momentum, which is probably a bearish ABC pattern. A bullish reversal is expected at the support Fibs.
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The EUR/USD bearish wave C is aiming for the 1.1275 support zone and 61.8% Fibonacci level, which could act as a bouncing spot for a move up to 1.1450 and 1.15.
The GBP/USD has completed a bullish ABC within a bearish wave B on the 1 hour chart. The current bearish price action is probably the expected wave C, which could be finished around the support zone of 1.26. This 50-61.8% Fib zone is likely to act as a bouncing spot for one more move up.
Check out the video below for the full analysis and trade plans on 1 July 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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