EUR/USD and GBP/USD overview [Video]

EUR/USD made a bullish retracement at 1.12 but remains in a very strong downtrend. The main trades are focused on the expected bearish movement.
The GBP/USD is testing the bottom of the downtrend channel, which could create a bullish correction.

Chris Svorcik Elite CurrenSea

The EUR/USD should resume the downtrend after making a bullish ABC correction. The main target for the downtrend is at 1.10 support.

The GBP/USD should also build a bullish ABC pattern and then decline towards the 38.2% Fibonacci level at 1.3150.

Check out the video below for the full analysis and trade plans on 29 Nov - 3 Dec 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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