on the gbp/usd I see a potential bullish set up while applying support and resistance lines. I see possible retracement towards newly formed support zone which has been tested before from previous data and I believe price will retrace towards the 0.618/0.7 level before shooting off. Price than formed an ABCD with D being the final confirmation of the pattern.
on the eur usd, long term movement is definitely bullish on the weekly and daily timeframe. Price seems to have made a large impulse move while being driven out from that huge resistance zone and has made a corrective move on the previous support zone which was also respected from previous data.
Delving into the daily/4hr chart, price made an abcd pattern so I...
Multiple confluent signals.
- Butterfly Advanced Pattern (not my favourite but it's an AB=CD pattern)
- 1,27 fib inversion
- 61,8 fib retracement
- Support (blue zone, look left for multiple times that price action react to that level.
- RSI oversold and divergence