The EUR/USD has reached the -27.2% Fibonacci target after breaking above the bull flag chart pattern. The next break could aim at 1.2250. The GBP/USD bullish spike is running into hefty resistance and a reversal back to the 144 ema 1 hour chart is likely.

EUR/USD & GBP/USD Overview

The EUR/USD bullish breakout could confirm the bullish wave C of a larger wave B. A bearish breakout, however, indicates a deeper wave B at 1.20.

The GBP/USD reversal could take price down to the support levels around 1.39-1.40.

Check out the video below for the full analysis and trade plans on 24 – 26 Feb 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: 00:09:07