? EUR/USD, GBP/USD Analysis & Setups 7 – 8 Nov ’19 ?

2 min read

Hi Traders,

the EUR/USD is completing a potential wave 5 of wave C at the 1.1050 support but a break below the 1.1030 zone indicates a bearish reversal. The GBP/USD is completing either an ABC or ABCDE triangle correction.

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The EUR/USD needs to show a strong bullish bounce and break above 1.11 before this bullish scenario can be confirmed. Otherwise a bearish reversal is becoming more likely if price action remains corrective.

The GBP/USD correction is expected to last long and would need a break above 1.30 or below 1.2750 before a larger breakout could take place.

Check out the video below for the full analysis and trade plans on 7 – 8 Nov 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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