EUR/USD, GBP/USD analysis & setups [Video]
|Hi Traders,
The EUR/USD is building a bearish reversal. Price is making a bullish ABC zigzag in wave 2 after completing 5 bearish waves in wave 1. The GBP/USD is in a range and the breakout is key. But a bearish reversal also seems to be the main scenario.
EUR/USD & GBP/USD Overview
The EUR/USD is testing the Fibonacci retracement resistance levels of the wave 2. A bearish bounce and breakout could confirm a reversal.
The GBP/USD remains choppy. The trend lines are key for a breakout north or south.
Check out the video below for the full analysis and trade plans on 29 May - 4 June 2021:
EUR/USD, GBP/USD technical analysis: patterns, trends, key S&R levels.
- Explanation of potential trade ideas both up and down
- Beginner friendly, explaining concepts in more detail
EUR/USD & GBP/USD Video
Good trading,
Chris Svorcik
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