EUR/USD, GBP/USD Analysis & Setups 7 – 8 Dec 2020

The EUR/USD is building a bearish retracement within a strong uptrend after making a double top at 1.2175. Is the uptrend over or just making a pullback? 

The GBP/USD is breaking the rising wedge and showing a large reversal towards 1.27-1.28.

EUR/USD & GBP/USD Overview

The EUR/USD key support zone is located at the shallow Fibonacci support levels of wave 4. This video discusses the key support zone.

The GBP/USD is likely to confirm the bearish breakout. We discuss how such a reversal would like on the chart.

Check out the video below for the full analysis and trade plans on 7 – 8 Dec 2020: 

  • 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: 00:08:39

 

Disclaimer: The opinions in this article are for informational and educational purposes only and should not be construed as a recommendation to buy or sell the stocks mentioned or to solicit ...

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