Forex Technical Analysis 03.08.2015 (EUR/USD, GBP/USD)

EUR USD, "Euro vs US Dollar"

After finishing a descending impulse, Eurodollar is consolidating. We think, today, the price may break this consolidation channel downwards and continue falling to reach 1.0844. An alternative scenario implies that the market may break the channel upwards and start a correction towards 1.1015.


GBP USD, "Great Britain Pound vs US Dollar"

Pound is consolidating. We think, today, the price may fall to break 1.5565 and reach 1.5442. An alternative scenario implies that the market may try to reach another new high.



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