Hi Traders, the EUR/USD seems ready to finish a bullish ABC zigzag towards 1.125 unless price breaks and closes below 1.11. The GBP/USD downtrend is strong and expected to continue as soon as the wave 4 pullback is completed.
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The EUR/USD needs break and close above 1.1250 or below 1.11 before a larger downtrend or bullish reversal becomes likely.
The GBP/USD has reached the 23.6% Fibonacci retracement level. Price could either make a correction to the 38.2% Fib or move sideways in the 21 ema and make a breakout below the 21 ema.
Check out the video below for the full analysis and trade plans on 28-29 May 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:
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