? EUR/USD, GBP/USD Analysis & Setups 19-21 July ’18 ?
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The EUR/USD, GBP/USD are showing strong bearish momentum on the lower time frames and a bearish breakout is likely to fall towards the support zone at 1.15-1.1575 (EUR/USD) and 1.2950-1.30 (GBP/USD). Price will need to close with a strong bearish daily close before a larger downtrend can be expected.
The EUR/USD is showing a bearish breakout on lower time frames which could send price lower to test the bigger support zone, which will act as a new key decision zone for a trend breakout or reversal. The video also explains why traders must keep an eye on the daily chart as well and whether price can close near the low.
The GBP/USD is looking even more bearish and a break, pullback and continuation is likely to occur this or next week unless price manages to break above 1.31 resistance.
Check out the video for the full analysis and trade plans on 19-21 July 2018:
- 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
See the video below for all of the details
Good trading,
Chris Svorcik
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