EUR/USD and GBP/USD overview [Video]

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.
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.

Chris Svorcik Elite CurrenSea

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

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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