GBP/USD and EUR/USD both came down recently into fifth waves of decline, so reversal may not be far away, or at least temporary support. We think that cable can rally up in three waves, for a deeper recovery into wave four, back to 12850 even, if 1.2790 is broken.
GBP/USD, 1h
EUR/USD also suggests a bounce soon, maybe on Friday after NFP report. However, any significant turn up can be confirmed only by an impulse back to 1.1500.
EUR/USD, 1h
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