the EUR/USD broke above the 21 ema zone, which seems to have completed a bearish ABC zigzag. The GBP/USD bullish rally is either a larger wave C or still part of a corrective wave 4.
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The EUR/USD failed to break below 1.11 and 1.1180 and is building a new bullish swing, which could aim for 1.13, 1.14 and 1.15.
The GBP/USD bearish downtrend seems over when considering the strong bullish momentum. For the moment, however, price is reaching a resistance zone which is expected to create a bearish correction first before more upside is likely.
Check out the video below for the full analysis and trade plans on 20-21 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: