EUR/USD is testing a key 61.8% Fibonacci support zone at 1.1275. A bullish breakout could confirm a new bullish swing. GBP/USD is testing a deeper 78.6% Fibonacci level as well.
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The EUR/USD breakout above the 21 ema zone could indicate a move up towards the target zone around 1.1450-1.15.
The GBP/USD is in a downtrend but a inverted head and shoulders pattern and bounce at the daily support zone could indicate the potential for a bullish reversal.
Check out the video below for the full analysis and trade plans on 4-5 July 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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