? EUR/USD, GBP/USD Analysis & Setups 13-14 August ’18 ?

2 min read

Both the EUR/USD and GBP/USD are showing strong bearish momentum, which is probably part of a wave 3. A bullish retracement is probably part of a wave 4 and the Fibonacci retracement levels of wave 4 vs 3 are expected to act as resistance.

EUR/USD broke below the key 1.15 support zone with strong bearish impulsive price action. A bearish continuation via a wave 3 is likely as long as price stays below the 50% Fib and 1.15-1.1525 resistance zone.

GBP/USD is showing the same bearish break and pattern as the EUR/USD after breaking below the support of the downtrend channel. The bearish impulsive price action is creating a potential 3rd wave as long as price stays below the main Fibonacci retracement levels.

Check out the video for the full analysis and trade plans on 13-14 August 2018:

  • 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

See the video below for all of the details

Good trading,
Chris Svorcik
Elite CurrenSea

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