the EUR/USD is building a bearish retracement within a strong uptrend after making a double top at 1.2175. Is the uptrend over or just making a pullback?
The GBP/USD is breaking the rising wedge and showing a large reversal towards 1.27-1.28.
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The EUR/USD key support zone is located at the shallow Fibonacci support levels of wave 4. This video discusses the key support zone.
The GBP/USD is likely to confirm the bearish breakout. We discuss how such a reversal would like on the chart.
Check out the video below for the full analysis and trade plans on 7 – 8 Dec 2020: