EUR/USD made a bearish breakout and seems to be preparing for an ABC zigzag pattern. The same is valid for the GBP/USD and both pairs could see a retracement and bearish bounce at the Fib resistance.
The EUR/USD broke the support zone, which could indicate more bearish pressure and price action. The invalidation level for downside is the top of the zigzag pattern but a strong break with strong candles above the 50% at 1.1711 would already indicate bear weakness.
The GBP/USD seems to be building a bearish wave C and price could make one more lower low if price respects the Fib resistance zone around 1.3250. A bullish breakout above the 21 ema zone on the 4 hr chart could indicate more upside.
Check out the video for the full analysis and trade plans on 12-14 July 2018:
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