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

The EUR/USD bearish breakout is probably a wave C aiming at the support zone around 1.1725-50. The GBP/USD bearish decline is strong and we are expecting multiple shallower pullbacks and breakouts towards 1.35.

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EUR/USD & GBP/USD Overview

The EUR/USD is probably moving lower as part of an ABC zigzag pattern. This could complete a wave A on the higher time frames, which could indicate a bullish reversal at support.

The GBP/USD is also in a bearish ABC pattern as long as price action stays above 1.35. Bearish trade setups are likely towards 1.35 but a bullish reversal could occur there.

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