As you can see on my h4 chart below, price has break below the minor trendline support indicating potential bearish correction phase testing 1.0640 support area in nearest term but the main outlook should remain bullish for this pair. The bias is neutral in nearest term and I think we area in no trading zone. I prefer to wait for further development before make any decision but still prefer buy on dips strategy. Immediate resistance at 1.0800. Break above that area should trigger further upside momentum and keep the bullish scenario targeting 1.1000 intact for this week.

The EURUSD made another indecisive movement this week. Price attempted to push higher, topped at 1.3691 on Tuesday but still closed below 1.3650 on Friday indicating limited upside corrective pressure. On daily chart below we can see that price slipped above the minor bearish channel but closed lower around the upper line of the minor bearish channel. While long term outlook remains bearish, the medium term outlook is in critical technical phase. The fact that price slipped above the minor bearish channel could open the way for further bullish correction towards 1.3850 area.

GBPUSD Forecast:
The GBPUSD was indecisive yesterday. The nearest bias is neutral but the main scenario remains bearish as price still move convincingly inside the bearish channel at least testing 1.5347 before targeting 1.5250 area. Immediate resistance at 1.5450/70 area. Break above that area could trigger further bullish correction testing the upper line of the bearish channel. I still prefer a bearish scenario with sell on rallies strategy at this phase.