The EUR/USD made a false bullish break before showing a strong bearish break below the 21 ema. It is now approaching a key support zone around 1.1450. The GBP/USD remains indecisive but a bearish break below 1.31 could start momentum. Check out our premium offer when trading with XM via ECS.
EUR/USD is expected to make a bullish bounce at the 1.1450 support zone as part of a bullish ABC zigzag pattern. But a break below 1.1430 could invalidate that pattern and indicate a strong bearish breakout.
GBP/USD remains in a difficult spot. The long-term charts are in a downtrend but the lower time frames remain choppy and corrective.
Check out the video for the full analysis and trade plans on 18-20 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