EUR/USD, GBP/USD Analysis & Setups 21 – 22 June 2021
The EUR/USD made a strong bearish breakout and impulsive price swing within the expected wave 3. Now a shallow pullback and continuation will probably take place in wave 4. The GBP/USD also showed a bearish breakout within a wave 3 and is expecting a wave 4-5 pattern too.
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EUR/USD & GBP/USD Overview
The EUR/USD is expected to test the shallow Fibonacci retracement levels like the 38.2% Fib within the wave 4. A bearish bounce is expected to push price action for a new low.
The GBP/USD should follow the same pattern and show two more lower lows before finding a potential strong support zone.
Check out the video below for the full analysis and trade plans on 21 – 22 June 2021:
EUR/USD, GBP/USD technical analysis: 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
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Good trading,
Chris Svorcik
CTA