The EUR/USD is showing a rising wedge reversal chart pattern. Price action is now testing the key decision zone at the 21 emas. The GBP/USD needs a decisive breakout to determine the next price swing.

EUR/USD & GBP/USD Overview

The EUR/USD needs a break above 1.1850 or below 1.1785 before it can decide about the next direction. The bullish target is at 1.1950-1.20 whereas bears are aiming at 1.1725.

The GBP/USD bears are aiming at 1.30 support whereas the bulls are eyeing the previous top at 1.33.

Check out the video below for the full analysis and trade plans on 16 – 17 Nov 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: 00:10:28