EUR/USD, GBP/USD Analysis & Setups 27 – 28 Sep 2021

The EUR/USD is testing key support and resistance trend lines. A bearish breakout could see a decline towards 1.1580 whereas a bullish breakout aims at the double top near 1.19. The GBP/USD made a triple bottom and is expected to build a bullish ABC pattern.

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EUR/USD & GBP/USD Overview

The EUR/USD bearish momentum, however, favours a bearish breakout. But price action must break below the bottom and support zone first.

The GBP/USD bullish bounce is aiming at the 61.8% Fibonacci level and resistance trend line of the descending wedge chart pattern.

Check out the video below for the full analysis and trade plans on 27 – 28 September 2021:

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Good trading,

Chris Svorcik
CTA