The EUR/USD is expected to complete a bullish wave C either right away after a breakout or after a bearish dip. The GBP/USD is building a critical triangle on the 1 hour chart. Check out our premium offer when trading with XM via ECS.
EUR/USD needs to break above 1.1730 for a bullish breakout whereas 1.1440 is the key support level for a bearish breakout. Otherwise price is expected to move sideways within a range and expand the corrective WXY pattern.
GBP/USD is building an indecision pattern on the 1 hour chart. A bullish breakout could see a reversal at the key resistance zone at 1.3250 whereas a bearish breakout is aiming for 1.3025 and 1.2950 targets.
Check out the video for the full analysis and trade plans on 16-17 Oct 2018:
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