EUR/USD, GBP/USD Analysis & Setups 24 – 25 May 2021

The EUR/USD is breaking above the 21 ema zone after completing a bearish ABC flat correction. The GBP/USD is making a bearish reversal at the previous top.

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EUR/USD & GBP/USD Overview

The EUR/USD seems to be ready for one more wave 5 in a wave 5 of C of a larger bullish ABC zigzag. The main target zone is 1.2275-1.2350 where a bearish reversal could take place. The bulls remain in control as long as price action stays above 1.2175.

The GBP/USD bearish breakout seems to be aiming at the 1.40 round support level. There a bullish ABC correction could take place.

Check out the video below for the full analysis and trade plans on 24 – 25 May 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