Both eurusd and gbpusd at key support

Both eur/usd and gbp/usd have been falling for three days now. Well, actually Euro has been falling for four days, as it rallies sharply on the 24^th of August, but reversed dramatically the same day and started collapsing. 

We saw that 200 sma on 1, 2, 4 and even 8 hour charts could not stop cable from depreciating against the greenback. Yet current price action shows that a reversal by the end of the week (this Friday) is possible. A bullish candle on both 4 and 8 hour charts indicates that the support may have been reached and buying pressure is coming in. Some resistance seen at 1.5450 level. I will be waiting for more signs of buying to start opening a long position myself. 

On the other hand, Euro fell around 500 pips against US dollar since Monday and as I mentioned in my previous post, it hit key support and is slightly rising now. One can spot a bullish candle on 8 hour chart too. It may mean that Friday will see Euro and Pound rising and greenback falling. 

Key fundamental news tomorrow:

GBP Gross Domestic Product at: 08:30 GMT

EUR German Consumer Price Index at: 12:00 GMT