Hi Traders, the EUR/USD failed to break below the 1.1250 support zone and instead broke above the falling wedge reversal chart pattern, which could indicate a larger bullish reversal if price manages to break above 1.1325. The GBP/USD made a bullish impulse but the pair probably needs a bearish retracement Do you want to leave your feedback? Please write a review on Forex Peace Army. Ps. do not forget to check out our upcoming 3x Forex seminars on trading in Europe! The EUR/USD is probably ready for a larger bullish correction unless a daily candle manages to break and close below the round support level of 1.1250.
The GBP/USD also made a bullish bounce at the 50-61.8% Fibonacci support zone and it could be ready for a larger bullish correction after a bearish retracement.
Check out the video below for the full analysis and trade plans on 19 – 20 Feb 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