EUR/USD, GBP/USD Analysis & Setups 12 – 13 Apr 2021

The EUR/USD is building an ABC correction in a wave 4 pattern. A breakout or bounce at the 38.2% Fibonacci level could confirm more upside. The GBP/USD made a double bottom at the double bottom but the resistance zone remains strong.

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EUR/USD & GBP/USD Overview

The EUR/USD bullish breakout could aim for the Fibonacci levels around 1.1975-1.2025. Here a bearish ABC pattern could emerge.

The GBP/USD needs a break above the 50% Fib at 1.3775 for a potential move upwards. A bearish bounce, however, could indicate a re-challenge of the double bottom.

Check out the video below for the full analysis and trade plans on 12 – 13 April 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