Hi Traders,
the EUR/USD downtrend is testing the 78.6% Fibonacci which is likely to be a reversal spot for a bullish wave C unless price breaks below 1.1025. The GBP/USD is building a bullish retracement towards 1.12250.
If you think our videos, analysis, and education help you become a better trader, then we would certainly appreciate your review on Forex Peace Army.
The EUR/USD downtrend is facing strong support. A break below the bottom could send price down to 1.09 and 1.08 whereas a bullish bounce could send the EUR/USD in an ABC towards 1.13-1.14.
The GBP/USD bullish price action is probably a wave C of a larger ABC zigzag pattern.
Check out the video below for the full analysis and trade plans on 19-21 August 2019:
Good trading,
Chris Svorcik
Leave a Reply