EUR/USD, GBP/USD Analysis & Setups 15 – 16 Feb 2021

The EUR/USD made a bullish bounce at the 50% Fib and 144 ema and is now aiming for a bullish breakout towards 1.2220. The GBP/USD also is bullish after bouncing at the 21 ema and breaking above 1.3860. The next target is now 1.40.

EUR/USD & GBP/USD Overview

The EUR/USD remains bullish as long as price action remains above 1.2075. A bounce at the 1.21 support zone could offer an interesting reward to risk ratio. The move up should complete a wave 5 of wave A. A bearish bounce is expected at the previous top as part of a larger ABC.

The GBP/USD could retrace back to and bounce at the 38.2% Fibonacci support zone around 1.3860. The main target is the round level at 1.40.

Check out the video below for the full analysis and trade plans on 15 – 16 Feb 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: 00:11:03

Good trading,

Disclaimer: 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 ...

How did you like this article? Let us know so we can better customize your reading experience.


Leave a comment to automatically be entered into our contest to win a free Echo Show.