? EUR/USD, GBP/USD Analysis & Setups 9-11 August ’18 ?

2 min read

The EUR/USD is probably building a larger bullish ABC zigzag pattern if price manages to stay above the support at 1.1530. The GBP/USD remains bearish and is aiming at 1.28, which is a key bounce or break spot.

EUR/USD seems to have completed 5 bullish waves, which could indicate a larger bullish bounce at the bottom of the range. Price could now be building a wave B of the bullish ABC as long as price stays above 1.1530.

GBP/USD remains strong. Price could be in wave bearish wave 3 if price breaks below 1.28 support whereas a bounce could indicate the end of a ending diagonal for wave 5.

Check out the video for the full analysis and trade plans on 9-11 August 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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