GBPUSD
On the intraday chart of GBPUSD we are observing a nice higher degree impulse in the making, with the price currently trading in final wave c. That said, final wave c may find some support in the next couple of sessions and make a nice reversal to the upside, ideally around the 161.8 Fibonacci ratio. A five wave move to the upside and a break above the 1.2250 level would indicate more upside to follow.
GBPUSD, 1H
EURUSD
On the hourly chart of EURUSD we can see a nice bearish breakdown taking place from around the 1.0716 high, where we labeled the end of a three wave rise in wave y-circled. Well, if the price continues to trade as expected and continues to drop, then regarding the higher time frame charts we could be in for a nice bearish ride. That said we still expect minimum expectations to show up, and in our case, we are now looking lower into a minimum three wave decline of waves i/a, ii/b and iii/c. Regarding the Alternate view, EURUSD could be only trading in a wave four correction, with still has more upside to go.
EURUSD, 1H