The EUR/USD made a wave 4 pullback and price action is now testing the 50% Fibonacci level and target zone at 1.2025. The GBP/USD bullish bounce at the channel bottom is looking very impulsive as well.
EUR/USD & GBP/USD Overview
The EUR/USD could move up once more, despite the resistance zone. The bullish momentum is looking strong and a mild pullback to the shallow Fibs at 1.20 could confirm a bounce up towards the next target zone at 1.21.
The GBP/USD bullish momentum needs a 1-hour bull flag pattern followed by a breakout for more upside towards 1.3950 and 1.40.
Check out the video below for the full analysis and trade plans on 19 – 20 April 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: 00:13:31
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