The EUR/USD made a bullish retracement towards the 38.2% Fibonacci retracement level as expected. The correction occured in a typical bear flag chart pattern and a new bearish continuation could occur when price breaks below the bear flag towards the 38.2% Fib at 1.15.
The GBP/USD is in a contracting triangle chart pattern and could stay volatile within this range.
Check out the video for the full analysis and trade plans on 31 October – 1 November 2017:
- EUR/USD, GBP/USD technical analysis
- Review of patterns, trends, key S&R levels
- Explanation of potentrial trade ideas both up and down
- Beginner friendly, explaining concepts in more detail