EUR/USD, GBP/USD Analysis & Setups 28 – 30 Oct 2020

Forex Trader, Analyst, Educator • Oct 28, 2020 at 12:14 PM EDT

The EUR/USD is breaking below the 1.1750-1.18 support zone and building the first steps of a larger bearish price swing.

The EUR/USD is breaking below the 1.1750-1.18 support zone and building the first steps of a larger bearish price swing. The GBP/USD seems to be also breaking below the 1.30 support for the same bearish outlook.

EUR/USD & GBP/USD Overview

The EUR/USD is developing a bearish swing that could take the price down to a target as low as the 1.15 support zone.

The GBP/USD bearish breakout could even aim as deep as 1.25. A daily candle breakout is needed below the key levels.

Check out the video below for the full analysis and trade plans on 28 – 30 Oct 2020:

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 00:07:8)

Disclaimer:

If you think our videos, analysis, and education can help you become a better trader, then we would certainly appreciate your review on Forex Peace Army. Or ask your own questions via our form and we will answer them in the weekly live webinar every Tuesday.

The opinions in this article are for informational and educational purposes only and should not be construed as a recommendation to buy or sell the stocks mentioned or to solicit transactions or clients. Past performance of the companies discussed may not continue and the companies may not achieve the earnings growth as predicted. The information in this document is believed to be accurate, but under no circumstances should a person act upon the information contained within. We do not recommend that anyone act upon any investment information without first consulting an investment advisor as to the suitability of such investments for his specific situation.