GBP/USD Bullish Breakout Awaits Flag ? EUR/USD Expands Consolidation ?

2 min read

Dear Traders,

the EUR/USD made a strong bullish bounce after completing a bearish ABC pattern but it was unable to break above the resistance trend line and remains in a larger corrective zone. Price will probably retest the bottom and support zone again before any larger bullish breakout could occur. The key support levels for a continuation of a bullish breakout are 1.2260 and 1.22.

The GBP/USD broke a key resistance trend line with strong bullish momentum and price is now building a bull flag chart pattern. A bullish continuation is likely as long as price moves sideways, stays above the 50-61.8% Fib zone at 1.40 or breaks the resistance trend line of the channel.

This webinar explains bearish and bullish trade setups based on the breakout direction and price action.

Check out the video for the full analysis and trade plans on 20-21 March 2018:

  • EUR/USD, GBP/USD, GBP/JPY 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
Elite CurrenSea

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