EUR/USD, GBP/USD Analysis & Setups 19 – 21 May 2021
The EUR/USD made a bullish breakout and reached the Wizz 6 and -27.2% Fibonacci target. But the strong price action seems to be wave 3 and a pullback in wave 4 is now expected. The GBP/USD is testing the previous top and there are 3 main scenarios for the Cable.
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EUR/USD & GBP/USD Overview
The EUR/USD remains in a wave 4 as long as price action stays above the 50% Fibonacci support level. The main target zone is the 1.2275-1.2350 area.
The GBP/USD needs a bearish breakout and lower high before a bearish reversal is confirmed.
Check out the video below for the full analysis and trade plans on 19 – 21 May 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: 00:14:05
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