Hi Traders, the EUR/USD could make one more high but resistance levels at 1.1450 and 1.15 are nearby. Price will probably complete a bullish wave 1 and prepare for a bearish wave 2 soon, unless price breaks above 1.15. The GBP/USD is building a bull flag chart pattern and seems ready for a continuation higher towards 1.3250. Do you want to leave your feedback? Please write a review on Forex Peace Army.
The EUR/USD is reaching a key bounce or break zone around 1.1450-1.15. A bullish breakout could indicate an immediate continuation towards the -27.2% Fibonacci target around 1.1650 whereas a bearish bounce could price fall towards the Fib retracement levels of wave 2 at around 1.1350.
The GBP/USD will most likely see a bullish breakout, pullback and continuation occur as long as price stays above the key 1.3125 support zone.
Check out the video below for the full analysis and trade plans on 29-30 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
EUR/USD, GBP/USD video:
Good trading, Chris Svorcik Elite CurrenSea