the EUR/USD is testing a key support zone at 1.1275 and will need to break above 1.1311 or 1.1250 before a clear breakout is determined. The GBP/USD made a head and shoulders pattern, rising wedge and bear flag chart pattern and is looking for a bearish break.
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The EUR/USD could have completed a bearish ABC pattern in a wave if price breaks above 1.1311. The target of the upside is 1.14 and 1.15. A break below 1.1250 however indicates a downtrend.
The GBP/USD downtrend is aiming for the previous bottom at first because of the potential expansion of the wave 4 pattern. A breakout is aiming for the 1.25 zone.
Check out the video below for the full analysis and trade plans on 13-14 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:
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