the EUR/USD is building a triangle pattern at 1.1250. A bearish bounce could take price to the 61.8% Fib at 1.11. The GBP/USD remains in a bear flag chart pattern and is awaiting a breakout.
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The EUR/USD is expected to build an inverted head and shoulders reversal chart pattern at 1.11 which could take price above 1.13. An immediate breakout needs to push above 1.1250.
The GBP/USD breakout candle on the 4 hour chart below the bear flag could indicate a bearish continuation towards 1.20.
Check out the video below for the full analysis and trade plans on 8-9 August 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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