EUR/USD, GBP/USD Analysis & Setups 19 – 22 Oct 2021

Forex Trader, Analyst, Educator • Oct 19, 2021 at 7:01 AM EDT

The EUR/USD made a bullish bounce and break above the 21 ema zone on the 4-hour chart. Price is now testing a key break or bounce spot at the 38.2% Fibonacci resistance level.

The EUR/USD made a bullish bounce and break above the 21 ema zone on the 4-hour chart. Price is now testing a key break or bounce spot at the 38.2% Fibonacci resistance 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.

10 and one 10 us dollar bill

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EUR/USD & GBP/USD Overview

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:

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

Video Length: 00:06:20

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