EUR/USD and GBP/USD overview [Video]
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EUR/USD made a bullish bounce and break above the 21 ema zone on the 4h chart. Price is testing a key break or bounce spot at the 38.2% Fibonacci level.
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The GBP/USD also made a bullish bounce at the 21 ema and 144 ema support zone. More upside seems likely to test the targets.
The EUR/USD price pattern at the Fibonacci resistance will be a key aspect to determine the next price swing. A bull flag indicates more uptrend continuation whereas a sharp bearish momentum indicates a downtrend.
The GBP/USD is breaking above a daily resistance trend line with multiple targets from 1.3875 to 1.40.
Check out the video below for the full analysis and trade plans on 19 - 22 Oct 2021:
The analysis has been done with the indicators and template from the SWAT method simple wave analysis and trading. For more daily technical and wave analysis and updates, sign-up to our newsletter
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