EUR/USD and GBP/USD Technical Outlook: Price Action Setups to Watch
In the world of forex trading, the EUR/USD and GBP/USD pairs are two of the most popular and widely traded currency pairs. Traders often look to technical analysis to help them identify potential price action setups and make informed trading decisions.
For the EUR/USD pair, the current technical outlook suggests that there may be some interesting price action setups to watch. The pair has been trading in a range for the past few weeks, with support around the 1.1800 level and resistance near the 1.1900 level. Traders will be keeping a close eye on these levels to see if the pair breaks out of this range and establishes a new trend.
On the other hand, the GBP/USD pair has been showing some bullish momentum in recent weeks. The pair has been making higher highs and higher lows, indicating a potential uptrend. Traders will be looking for opportunities to buy on pullbacks and ride the trend higher.
Overall, both the EUR/USD and GBP/USD pairs present interesting price action setups to watch in the coming days. Traders should keep a close eye on key support and resistance levels to help them make informed trading decisions.