EUR/USD, GBP/USD Analysis & Setups 7 – 8 Dec 2020

The EUR/USD is building a bearish retracement within a strong uptrend after making a double top at 1.2175. Is the uptrend over or just making a pullback? 

The GBP/USD is breaking the rising wedge and showing a large reversal towards 1.27-1.28.

EUR/USD & GBP/USD Overview

The EUR/USD key support zone is located at the shallow Fibonacci support levels of wave 4. This video discusses the key support zone.

The GBP/USD is likely to confirm the bearish breakout. We discuss how such a reversal would like on the chart.

Check out the video below for the full analysis and trade plans on 7 – 8 Dec 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: 00:08:39