? EUR/USD, GBP/USD Analysis & Setups 4-5 Sept ’18 ?

2 min read

The EUR/USD is building a bearish ABC pattern within a wave B. The 50-61.8% Fibonacci retracement levels could act as support and a bouncing spot around 1.15. The GBP/USD is showing strong bearishness and has arrived at the weekly S1 PP which is a a key decision zone. Make sure to check out our free Wave and Fibonacci guide.

EUR/USD broke the bear flag chart pattern which could indicate a bearish wave C. Price is expected to bounce in the support zone at 1.1475-1.1525 to finish wave B and start bullish wave C. A break below 1.1475 would change the perspective and chances.

GBP/USD is in a bearish breakout and could either have completed a bearish wave 1 or expand a bearish wave 3 depending on the reaction at the S1 pivot point decision zone.

Check out the video for the full analysis and trade plans on 4-5 September 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
Elite CurrenSea


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