the EUR/USD made a strong bullish bounce and needs to break above 1.1060 or 1.1025 to confirm the next direction. The GBP/USD bulls are in control and are aiming for the key 1.30 resistance level.
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The EUR/USD bullish bounce at the 21 ema on the 4 hour chart aims for the 1.1085-1.1120 zone, which could confirm a wave 5 pattern and a larger bullish move. If price breaks below the 21 ema zone on the 1&4 hour charts at 1.1025, then this could indicate a downtrend continuation towards 1.0940.
The GBP/USD uptrend could be building a bullish wave 123 pattern after completing a bearish ABC if price builds a bull flag pattern in the 1.2975-1.30 resistance zone.
Check out the video below for the full analysis and trade plans on 18 – 20 Nov 2019: