EUR/USD, GBP/USD Analysis & Setups 22 – 23 Feb 2021EUR/USD is testing the key 21 ema zone on the 4 hour chart. The GBP/USD uptrend is extremely strong but price action is reaching a potential reversal zone.
The EUR/USD is testing the key 21 ema zone on the 4 hour chart, which is a critical bounce or break spot. The GBP/USD uptrend is extremely strong but price action is reaching a potential reversal zone soon.
If you think our videos, analysis, and education can help you become a better trader, then you can ask your own questions via our form and we will answer them in the weekly live webinar every Tuesday.
Trading Derivatives carries a high level of risk to your capital and you should only trade with money you can afford to lose. Trading Derivatives may not be suitable for all investors, so please ensure that you fully understand the risks involved, and seek independent advice if necessary. A Product Disclosure Statement (PDS) can be obtained either from this website or on request from our offices and should be considered before entering into a transaction with us. Raw Spread accounts offer spreads from 0.0 pips with a commission charge of USD $3.50 per 100k traded. Standard account offer spreads from 1 pips with no additional commission charges. Spreads on CFD indices start at 0.4 points. The information on this site is not directed at residents in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.
EUR/USD & GBP/USD Overview
The EUR/USD is testing the wave 4 support Fibs. A bullish bounce and breakout could send price higher in a wave C whereas a bearish break below 1.2090 should send price to the 78.6% Fib at 1.20.
The GBP/USD is in reversal territory but only if there is a strong daily bearish candle. Otherwise a bull flag pattern and a new high is likely.
Check out the video below for the full analysis and trade plans on 22 – 23 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
EUR/USD & GBP/USD Video
For a look at all of today’s economic events, check out our economic calendar.