Hi Traders, EUR/USD is showing an inverted head and shoulders reversal chart pattern. A second break and close above the 21 ema high could confirm the reversal. The GBP/USD is retesting the support zone after a lengthy range. If you think our videos, analysis and education help you become a better trader, then we would certainly apprecaite your review on Forex Peace Army, thank you! The EUR/USD is at a clear decision zone. A bullish breakout could spark a bullish impulse and a potential wave 3 whereas a bearish candle close below 1.1175 could indicate a downtrend.
The GBP/USD key support zone is at 1.2950. A bullish bounce on the 1 hour chart could send price back to the resistance trend line whereas a daily candle close below 1.2950 indicates a downtrend.
Check out the video below for the full analysis and trade plans on 7-8 Apr 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