the EUR/USD is moving sideways in a triangle pattern and awaiting a breakout. The 61.8% Fib is a strong support zone. The GBP/USD downtrend has reached close 1.20 and could make a retracement towards 1.2075-.121.
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The EUR/USD could build an inverted head and shoulders reversal chart pattern at the 61.8% Fib and move up towards the target zone at 1.13-1.14.
The GBP/USD could continue with the downtrend if price respects the resistance zone around 1.2075-1.21.
Check out the video below for the full analysis and trade plans on 12-14 August 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:
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