Hi Traders, the EUR/USD made a bullish reversal at the 88.6% Fibonacci retracement level but a new break above resistance is needed to confirm an uptrend. The GBP/USD made a strong bullish break but price is now falling quickly. Is it a pullback or reversal? Do you want to leave your feedback? Please write a review on Forex Peace Army.
The EUR/USD is struggling to move higher despite the break above the resistance trend line of the falling wedge. Price will need to either break above 1.14 or below 1.1265 before a direction is clear.
The GBP/USD is probably building a retracement within the uptrend as long as price stays above the 50% Fibonacci retracement level at 1.2950.
Check out the video below for the full analysis and trade plans on 24-26 Jan 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