On Wednesday, the market in both currencies was moving down.

The pair GBP / USD, while moving down, could not reach the lower fractal of 1.2605.

The EUR / USD pair, while moving down, tested the pullback level of 76.4% - 1.1134 (yellow dotted line). However, it did not go lower.

On Thursday, strong calendar news comes out at 12.30, 14.00, 15.00 (USD) Universal Time

Trend analysis (Fig. 1)

Today, the price will continue to move down with the first goal of 1.1108 - the lower fractal.

Fig. 2 (daily schedule)

Comprehensive analysis:

- indicator analysis - up;

- Fibonacci levels - up;

- volumes - up;

- candlestick analysis - up;

- trend analysis - up;

- Bollinger lines - up;

- weekly schedule - down.

General conclusion:

On Thursday, we are waiting for the start of the upward movement, but this will most likely to occur after testing the lower fractal of 1.2605, and before that - the lower movement. The first upper target of 1.2688 is the pullback level of 14.6% (yellow dotted line).