The EUR/USD is showing a strong bullish breakout as expected. Price could still build several higher highs within the uptrend. The GBP/USD needs a bull flag on the 1 hour chart before it is probably able to break above the 1.35 resistance zone.

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EUR/USD & GBP/USD Overview

The EUR/USD is in a strong uptrend and reaching the next target zone around 1.2250. Can the bulls keep control? A few new higher highs are possible if chart patterns appear.

The GBP/USD is in a similar uptrend after breaking above the resistance trend line. The next target could be as high as 1.3750.

Check out the video below for the full analysis and trade plans on 16 – 18 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: 00:11:41