Hi Traders, EUR/USD showed strong bullish momentum yesterday and a continuation higher towards 1.1325 is likely. The GBP/USD is testing the 1.27 resistance zone which could cause a bearish reversal.
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The EUR/USD is expecting one or two more higher highs as long as price stays above the 1.1225 support zone. The 1.13 zone remains a strong resistance level though and a key decision candle is expected on the daily chart.
The GBP/USD remains in a strong downtrend and could immediately continue with the downtrend if a bearish pinbar candlestick pattern appears on the 4H chart.
Check out the video below for the full analysis and trade plans on 4-5 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: