EUR/USD and GBP/USD overview [Video]

EUR/USD is building an ABC correction in a wave 4 pattern. A breakout or bounce at the 38.2% Fibonacci level could confirm more upside.
The GBP/USD made a double bottom at the double bottom but the resistance zone remains strong.

Chris Svorcik Elite CurrenSea

EUR/USD and GBP/USD overview

The EUR/USD bullish breakout could aim for the Fibonacci levels around 1.1975-1.2025. Here a bearish ABC pattern could emerge.

The GBP/USD needs a break above the 50% Fib at 1.3775 for a potential move upwards. A bearish bounce, however, could indicate a re-challenge of the double bottom.

Check out the video below for the full analysis and trade plans on 12 - 13 April 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.

Author

Chris Svorcik

Elite CurrenSea

Experience Chris Svorcik has co-founded Elite CurrenSea in 2014 together with Nenad Kerkez, aka Tarantula FX. Chris is a technical analyst, wave analyst, trader, writer, educator, webinar speaker, and seminar speaker of the financial markets.

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