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


Video Length: 00:14:05


Disclaimer: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. On average around 80% of retail investor accounts loose money when trading with high ...

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