? EUR/USD, GBP/USD Analysis & Setups 23-24 July ’19 ?

2 min read

Hi Traders,

the EUR/USD is breaking below 1.12 support and the bearish impulse is expected to test the double bottom at 1.11. The GBP/USD is moving down fast too, but a larger bullish ABC is still likely.

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The EUR/USD bounce at the 1.11 double bottom could indicate a larger bullish C pattern whereas as a bearish breakout below 1.11 and 1.10 could indicate a new downtrend.

The GBP/USD is testing key Fibonacci support levels too. A break below the bottom also could indicate a downtrend but for the moment, a bullish retracement is likely to take place within wave 4.

Check out the video below for the full analysis and trade plans on 23-24 July 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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