Hi Traders, EUR/USD is preparing for a bullish breakout which is aiming for 1.1410 if price can push above 1.1325. The GBP/USD however remains bearish and price is building a bear flag continuation pattern.
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The EUR/USD bearish retracement was mild and choopy, which makes a bullish continuation likely as long as price stays above the key support zone at 1.1250-1.1275.
The GBP/USD is awaiting a bearish breakout and/or bearish bounces at the resistance levels of 1.2750 and 1.2825 for a move down to 1.25-1.2525.
Check out the video below for the full analysis and trade plans on 11-12 June 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: