Chris Svorcik
Add to Bookmarks

The EUR/USD is building a bullish ABC zigzag pattern in bearish wave 2. The main target of the bearish wave 3 is 1.1750 unless price action shows a bull flag pattern. The GBP/USD is preparing for a bullish bounce up to test the Fibonacci resistance levels.

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.

Know where GBP/USD is headed? Take advantage now with 

75% of retail CFD investors lose money

EUR/USD & GBP/USD Overview

The EUR/USD is bearish as long as price action stays below the top at 1.2242. A bullish breakout indicates a triangle chart pattern in wave 4. But for the moment, a bearish ABC is targeting the 38.2% Fibonacci level.

The GBP/USD is probably ready for a bullish ABC zigzag pattern within bearish wave B. The main target is also the 38.2% Fib.

Check out the video below for the full analysis and trade plans on 3 – 5 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


For a look at all of today’s economic events, check out our economic calendar.

Good trading,

Chris Svorcik


Don't miss a thing!
Discover what's moving the markets. Sign up for a daily update delivered to your inbox

Trade With A Regulated Broker