EUR/USD, GBP/USD Analysis & Setups 26 – 29 Oct 2021

The EUR/USD is showing a bullish divergence and time pattern on the daily chart. A break above the 21 and 144 emas would confirm a bullish reversal. The GBP/USD also needs a break above the 21 ema zone on the 4 hour chart for an uptrend continuation.

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EUR/USD & GBP/USD Overview

The EUR/USD daily chart target is the 144 ema around 1.175-.1.18. Whether the price action could go higher depends on the reaction at this 144 ema zone. A bullish confirmation could take place on the 4 hour chart with a close above the 21 emas.

The GBP/USD is aiming at the targets around 1.3930, 1.40, and 1.4070. An uptrend continuation should reach these Fibonacci and round levels if the momentum is strong enough.

Check out the video below for the full analysis and trade plans on 26 – 29 Oct 2021:

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Good trading,

Chris Svorcik
CTA