EUR/USD, GBP/USD Analysis & Setups 20 – 24 Dec 2021

The EUR/USD is testing the support zone. A bearish breakout below 1.1220 should send the currency pair back into a full downtrend. The GBP/USD bearish rejection at the 21 ema on the daily chart looks strong. A bearish continuation is expected.

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EUR/USD & GBP/USD Overview

The EUR/USD bearish breakout is expected to have a target at the 1.10 round level and 78.6% Fibonacci retracement level.

The GBP/USD bearish target is aiming at the round level of 1.30 and the next Fib at 1.2825.

Check out the video below for the full analysis and trade plans on 20 – 24 Dec 2021:

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Good trading,

Chris Svorcik
CTA