Hi Traders, the EUR/USD is making a bearish pullback after a key break above 1.15. The retracement is likely to bounce at the support zone around 1.14-1.1450 for a bullish continuation. The GBP/USD could continue higher till 1.30 but has a key vote in the UK on the Brexit deal on Tuesday. Do you want to leave your feedback? Please write a review on Forex Peace Army.
The EUR/USD seems to be building a bearish ABC zigzag that has bounced and respected the 50% Fibonacci retracement level. A bullish breakout above the 21 ema however is needed to confirm the bullish continuation otherwise a deeper bearish pullback might occur.
The GBP/USD broke above the previous top and is now showing bullish momentum. However, GBP/USD is likely to face resistance at the round resistance level of 1.30.
Check out the video below for the full analysis and trade plans on 13-14 Jan 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:
Good trading, Chris Svorcik Elite CurrenSea