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

2 min read

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.

If you think our videos, analysis, and education help you become a better trader, then we would certainly appreciate your review on Forex Peace Army.

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

Leave a Reply

avatar

This site uses Akismet to reduce spam. Learn how your comment data is processed.

  Subscribe  
Notify of