In this video, the Trader Guy looks at the currency pairs EUR/USD and GBP/USD for the May 17th session.
EUR/USD — The market tried to rally initially on Thursday session, but then rolled over. This market looks bearish at the moment and could move towards the 1.11. to the downside. Further break below this level, this market could move towards the 1.10 level. Also, this pair looks choppy at the moment. This market has been in a downtrend. Only a break above the top of the candlestick from Monday session can be considered bullish.
GBP/USD — The pound has turned very bearish at the moment. As it approaches a key support level, buying looks attractive. But wait for signs of supportive candle like a hammer before you buy. However, selling is not recommended at the moment. So, pay attention to headlines related to Brexit.