EUR/USD Bearish Correction ? GBP/USD Uptrend Continuation ?

2 min read

Dear Traders,

the EUR/USD is likely to continue with its bearish correction within the larger bullish consolidation pattern. The GBP/USD uptrend could show one more higher as long as price stays above 1.4140 support.

The EUR/USD is building a lengthy consolidation pattern which is most likely a bearish wave 4 as long as price stays above 1.2125. Eventually a bullish wave 5 is expected but more bearish corrections and trade setups could develop next week before EUR/USD finds a stronger support zone.

The GBP/USD uptrend was expected but the momentum seems to remain strong. A bullish continuation after a bearish wave 4 pullback could take place as long as price stays above the 50% Fib support zone at 1.4140.

Check out the video for the full analysis and trade plans on 14-16 April 2018:

  • 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

See the video below for all of the details

Good trading,
Chris Svorcik
Elite CurrenSea

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