✅ EUR/USD, GBP/USD Analysis & Setups 17 – 19 Feb 2021 ✅

Hi Traders,

the

EUR/USD completed the bullish 5th wave. It is now expected to show a bearish ABC zigzag towards the 61.8% Fibonacci level. The GBP/USD could retest the bottom of the downtrend channel at 1.3850 before finding support.

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EUR/USD & GBP/USD Overview

The EUR/USD is looking for a bullish bounce but the head and shoulders pattern should send price action lower again. A bearish ABC pattern is expected to take price lower.

The GBP/USD bullish bounce at 1.3850 could setup a target at 1.40 but a break below the support zone indicates a deeper bearish move.

Check out the video below for the full analysis and trade plans on 17 – 19 Feb 2021: 

• 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:

Good trading,
Chris Svorcik