✅ EUR/USD, GBP/USD Analysis & Setups 3-4 Oct ’19 ✅

2 min read

Hi Traders,

the EUR/USD is building a larger bullish retracement but now price action is approaching the key decision zone at 1.10. The GBP/USD is showing strong buying pressure, which should create a bullish breakout above the 1.2325 resistance level.

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The EUR/USD downtrend remains active as long as price stays below the 1.1025 resistance level. A bullish break above that indicates a potential reversal. For the moment, bullish price action is likely to test the 1.10 round level.

The GBP/USD completed a bearish ABC pattern at the 61.8% Fibonacci retracement level. Now price is trying to make a bullish reversal towards the 1.2390-1.2440 targets.

Check out the video below for the full analysis and trade plans on 3-4 October 2019:

  • 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

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Sandrine

With NFP on this new week and new month, tomorrow EURUSD could go up to 1.10 and higher or lower. Two bouts of versatility today on EURUSD, so anything can happen between tomorrow’s NFP and next week China USA deal or no deal.