EUR/USD, GBP/USD Analysis & Setups 6 – 7 June 2021

The EUR/USD made a bullish ABC followed by a bearish bounce as expected. But the bearish impulse ran out of steam soon and price action will need a breakout to decide the next step. We also review the Elliott Waves on the GBP/USD and when to expect from the Cable.

10 and one 10 us dollar bill

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EUR/USD & GBP/USD Overview

The EUR/USD needs to break below the 61.8% Fibonacci for a bearish wave 3 or break above the 21 ema zones for a bullish wave 4-5 of wave C.

The GBP/USD remains choppy and impulsive. A bearish reversal at resistance or breakout followed by a bear flag offers the most potential this week.

Check out the video below for the full analysis and trade plans on 6 – 7 June 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: 00:11:38


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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