EUR/USD, GBP/USD Analysis & Setups 11 – 12 Jan 2021

By Chris Svorcik of Elite CurrenSea

Forex Trader, Analyst, Educator • Jan 11, 2021 at 9:42 AM EST

The EUR/USD is building a bearish reversal. What is the main target for the downside? The GBP/USD also seems to be completing a wave 5 of wave 5 and a larger ABC pattern could take place.

The EUR/USD is building a bearish reversal. What is the main target for the downside? The GBP/USD also seems to be completing a wave 5 of wave 5 and a larger ABC pattern could take place.

The EUR/USD has broken the below the rising wedge chart pattern. A larger bearish retracement is expected after price action retests the resistance zone.

The GBP/USD is also expected to test the resistance trend line, which could offer a decent space down to the targets.

Check out the video below for the full analysis and trade plans on 11 – 12 Jan 2021:

EUR/USD, GBP/USD technical analysis
Review of 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

Video Length: 00:08:04

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