the EUR/USD is testing the key support zone at 1.11, which is a key bounce or break spot. A lot will depend on the ECB event. The GBP/USD seems to be building a contracting ABCDE triangle pattern within a larger downtrend.
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The EUR/USD break below 1.11 could indicate a downtrend continuation towards 1.10, which is the next key level and decision zone. A bullish bounce could indicate a potential recovery towards 1.1250.
The GBP/USD made a strong rally but price has bounced at the resistance zone. A sideways continuation is likely whereas a bearish breakout could restart the downtrend.
Check out the video below for the full analysis and trade plans on 25-26 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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