EUR/USD, GBP/USD Analysis & Setups 4 – 8 Oct 2021

Forex Trader, Analyst, Educator • Oct 4, 2021 at 9:00 AM EDT

The EUR/USD is building a small bullish pullback in a larger downtrend. The main target is the 50% Fibonacci retracement at 1.15-1.1540.

The EUR/USD is building a small bullish pullback in a larger downtrend. The main target is the 50% Fibonacci retracement at 1.15-1.1540. The GBP/USD should make a bearish bounce as well, despite the strong bullish close and reverse.

10 and one 10 us dollar bill

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EUR/USD & GBP/USD Overview

The EUR/USD long-term direction depends on the price reaction at the 50% Fibonacci support level and 144 ema of the weekly chart.

The GBP/USD long-term direction depends on how strong price action falls once it makes a bearish bounce.

Check out the video below for the full analysis and trade plans on 4 – 8 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: 00:10:07

Good trading,

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EUR/USD & GBP/USD Overview

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