The EUR/USD is still expected to make a bullish ABC zigzag pattern once it manages to break above the resistance. For the moment a larger bullish bounce is taking place after the double bottom on the daily chart. The GBP/USD is also creating a strong bullish 5 wave pattern which is aiming for 1.3125. A larger bullish ABC seems to be taking place as well. Check out our ultimate Support & Resistance guide.
The EUR/USD bullish break is aiming for 1.15 and 1.16 as soon as price manages to push above the previous top and resistance trend line. A break below the bottom at 1.13 invalidates the bullish wave pattern.
The GBP/USD is also expecting to build a bullish ABC zigzag pattern as part of larger bullish correction back to 1.3250.
Check out the video below for the full analysis and trade plans on 6-7 Nov 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