✅ EUR/USD, GBP/USD Analysis & Setups 4 – 8 Jan 2021 ✅

Hi Traders,

the EUR/USD is showing a double divergence pattern, which could create a pullback towards the 144 ema around 1.2150. The GBP/USD could also build a retracement first within the larger uptrend.

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The EUR/USD is facing a hefty resistance zone at 1.23 and is expected to make a retracement first before the uptrend reaches new highs.

The GBP/USD broke above the long-term resistance trend line on the monthly chart and has space for a new high within wave 5.

Check out the video below for the full analysis and trade plans on 4 – 8 Jan 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