The EUR/USD is in a downtrend but a bear flag pattern is needed to provide enough space for a short setup towards 1.20. The GBP/USD is also looking for a key bearish breakout of the long-term support.

The EUR/USD main bearish target is at 1.20 the support zone. A bear flag pattern could take price up first towards 1.21.

The GBP/USD is testing a critical long-term support zone for a bearish breakout and reversal for bullish bounce back to the double top.

Check out the video below for the full analysis and trade plans on 18 – 19 Jan 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

EUR/USD, GBP/USD video:

Video Length: 00:09:34