The EUR/USD is moving sideways and a breakout is needed to confirm the next price swing. A bullish breakout should retest the resistance zone again. The GBP/USD has a better chance of moving up but it faces hefty resistance.
The EUR/USD bearish breakout could confirm the end of the bullish wave B and the start of the wave C down.
The GBP/USD is stuck in between support from the moving averages and resistance from the double top pattern.
Check out the video below for the full analysis and trade plans on 9 – 11 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
EUR/USD, GBP/USD video:
Video Length: 00:08:20
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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 leverage. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
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