Euro / US Dollar
The short term pattern in the EURUSD strongly suggests that the longer term decline has resumed. At this point, price should remain below 1.4330 and potential resistance is the 1.4158/1.4210 zone. 1.4000 (1.3981 is a 100% extension) may provide short term support but rallies should be sold at this point.
British Pound / US Dollar
The long term GBPUSD decline has most likely resumed as well. The ultimate objective is below 1.3500 and price should remain below 1.6672 now. 1.6000 is potential short term support (7/8 low and 100% extension surrounds this level). Former support at 1.6388 is potential resistance.
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