EUR/USD is showing bullish momentum after failing to break below the key 1.1180 support zone and a bullish breakout above 1.1280-1.13 could indicate an uptrend continuation. The GBP/USD is also moving up but it could still be a pullback of the larger downtrend.
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The EUR/USD potential uptrend could aim for the zone at 1.1450 – 1.15 if price manages to break above the key resistance zone. A downtrend is only valid if price is able to break below the 1.1180 support zone.
The GBP/USD is in a potential wave 4 and could aim for one more lower low if price manages to stay below the 50% Fibonacci retracement level at around 1.2550-1.26.
Check out the video below for the full analysis and trade plans on 11-12 July 2019:
- 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: