EUR/USD, GBP/USD Uptrends ? Must Break Resistance for Continuation ✅

Dear Traders,

the EUR/USD is testing the previous top which is a key resistance zone at 1.2080. A bullish breakout could indicate an uptrend continuation which will take price towards the next targets at 1.2250 and 1.25. A bearish bounce however will indicate a decent chance of a larger bearish retracement back to 1.15 and create a larger bearish ABC pattern.

The GBP/USD bullish breakout has made a bearish retracement which bounced at the 38.2% Fibonacci level. Trade setups could appear either at the 50% Fibonacci level or upon tbe bullish break of the triangle. Main targets are 1.3625, 1.3650 and 1.3750.

Check out the video for the full analysis and trade plans on 7- 8 January 2018:

• EUR/USD, GBP/USD technical analysis
• Review of patterns, trends, key S&R levels
• Explanation of potentrial 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