EUR/USD and GBP/USD overview [Video]

EUR/USD is testing the Fibonacci retracement levels of the wave 4 pattern. A bearish bounce and breakout could confirm a downtrend continuation.

Chris Svorcik Elite CurrenSea

The GBP/USD is also testing the key 50% Fibonacci resistance zone.

EUR/USD and GBP/USD overview

The EUR/USD remains bearish as long as price action stays below the 50% Fibonacci level. There could be still two more lower lows within the bearish wave C.

The GBP/USD needs to break below the 21 ema zone to confirm a breakout. A push above the 50% Fib places the bearish outlook on hold.

Check out the video below for the full analysis and trade plans on 23 - 25 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.

The analysis has been done with the ecs.SWAT method and ebook.

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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