✅ EUR/USD, GBP/USD Analysis & Setups 4 – 5 May ’20 ✅

Dear Traders,

the EUR/USD is testing the support zone around 1.09, which could provide a bounce towards 1.1250. The GBP/USD is showing 5 bearish waves after a double top pattern.

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The EUR/USD break below 1.09 could see price challenge the 2nd support zone at 1.0780. The bears would need to break both support zones before a downtrend is possible.

The GBP/USD remains bearish but a bullish bounce could retest the 61.8% Fib at 1.2550 first.

Check out the video below for the full analysis and trade plans on 4-5 May 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
Elite CurrenSea