EUR/USD, GBP/USD Analysis & Setups 24 – 26 Feb 2021

The EUR/USD has reached the -27.2% Fibonacci target after breaking above the bull flag chart pattern. The next break could aim at 1.2250. The GBP/USD bullish spike is running into hefty resistance and a reversal back to the 144 ema 1 hour chart is likely.

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EUR/USD & GBP/USD Overview

The EUR/USD bullish breakout could confirm the bullish wave C of a larger wave B. A bearish breakout, however, indicates a deeper wave B at 1.20.

The GBP/USD reversal could take price down to the support levels around 1.39-1.40.

Check out the video below for the full analysis and trade plans on 24 – 26 Feb 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

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Good trading,

Chris Svorcik

CTA