EURUSD is trading around the lows ahead of the ECB press conference today, so it may be a perfect timing for a new shift in trend, if we consider that Elliott wave shows the pair in the fifth wave of decline. There are some Fib. levels around 1.2150 where the bears may slow down. Be aware of a bounce.
EURUSD, 1h
On cable the pair bears are lagging a bit, but also seen moving lower into a fifth wave of decline so the trend may change to a temporary three wave recovery, especially once the trend line resistance is broken.
GBPUSD, 1h
