The EUR/USD is testing a key 21 ema support zone on the 4 hour chart. A bearish breakout could indicate a new lower low whereas a bounce gives green light for a move up towards 1.1850. The GBP/USD is in a bullish wave C and bull flag patterns could confirm the push higher.

EUR/USD & GBP/USD Overview

The EUR/USD has mixed signals on different time frames. The 4 hour chart could easily be in a wave 4 with more downside but the daily chart is showing bullish candles. In any case, the bearish divergence should create a push back towards the 144 ema eventually.

The GBP/USD bullish wave C is aiming for the target zones at 1.3950 and 1.4025.

Check out the video below for the full analysis and trade plans on 5 – 6 April 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: 00:12:41