In this video, the Trader Guy looks at the currency pairs EUR/USD and GBP/USD for the February 26th session.
EUR/USD — The trading session was bullish on Tuesday. It is seen as an effort by bulls trying to extend the gains from Monday. The formation of hammer candlestick near this gap is a bullish sign. However, the fundamentals do not favor the upside at the moment. The 1.09 level is seen as the beginning of the supply zone. So, this rally could come to an end. Any signs of exhaustion, you can sell rallies at the moment.
GBP/USD — The pound has also rallied and it is trading above the 1.30 level. As you can see on the daily chart, you can make an argument for a "W" pattern. Clearing the 50-day EMA is seen as a buy signal. However, pullbacks are seen as buying opportunities. A break below the recent lows, the market will then look towards the 200-day EMA for support to the downside.