🌟 EUR/USD, GBP/USD Analysis & Setups 7 – 8 Dec 2020 🌟

Hi Traders,

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.

If you think our videos, analysis, and education can help you become a better trader, then we would certainly appreciate your review on Forex Peace Army. Or ask your own questions via our form and we will answer them in the weekly live webinar every Tuesday.

EUR/USD & GBP/USD Overview

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: 

• 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