EUR/USD, GBP/USD Analysis & Setups 7 – 9 Feb 2021

The EUR/USD has completed a bearish wave C and is now preparing for a bullish ABC towards 1.22-1.23. The GBP/USD is also looking bullish and is expected to aim at Wizz 7 level near 1.3860.

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EUR/USD & GBP/USD Overview

The EUR/USD is expected to move up towards 1.21 to complete a wave A before building an ABC lower within wave B. A bullish bounce should confirm the start of a bullish wave C.

The GBP/USD made a strong bullish bounce at the 233 ema close. A bullish continuation is now also expected. A bearish pullback could offer an opportunity for a potential long setup.

Check out the video below for the full analysis and trade plans on 7 – 9 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

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Good trading,

Chris Svorcik
CTA