25 June 2018 at 7:03 GMT
GBPUSD intermediate-term bear trend intact; EURUSD in a broader range
An erratic tone for both GBPUSD and EURUSD, impacted by the Fed, MPC of the Bank of England and the ECB all in play. But, we still see risks skewed for US Dollar strength and for downside risks for both the GB Pound and Euro versus the US$.
GBPUSD has seen a significant selloff in June, initially in reaction to a more dovish ECB, and despite a recent rebound after the Bank of England Meeting last week, we still see an intermediate-term bear trend and look for further GBPUSD losses for late June and into July.
For EURUSD, the selloff after the mid-June ECB decision, which was seen as dovish, did not quite resume an intermediate-term bear trend and we still see a boarder range phase, But with skewed bias for a bearish theme, only below 1.1507.
See the full article with video analysis here: https://www.forexfraud.com/technical-analysis/gbpusd-intermediate-term-bear-trend-intact-eurusd-in-a-broader-range