Hi Traders, the EUR/USD is building a bullish channel after hitting a major 61.8% Fibonacci support level. The GBP/USD showed a strong bullish bounce at the support trend line and is showing impulsive price action. Do you 1 minute to leave your feedback? Please write a review on Forex Peace Army. Ps. do not forget to check out our upcoming 2x Forex seminars on trading in Europe!
The EUR/USD will need to either break below the bottom at 1.1175 for a downtrend continuation or show a clear bullish bounce after retesting the bottom before a direction is clear.
The GBP/USD could have space up to the strong resistance area at 1.34-1.35 but this will depend on the reaction towards the Brexit vote today.
Check out the video below for the full analysis and trade plans on 12 – 13 Mar 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