In this video, the Trader Guy looks at the currency pairs EUR/USD and GBP/USD for the February 27th session.
EUR/USD — The market saw a sideways price action on Wednesday. The 1.09 level is seen as the beginning of the supply zone. Hence, rallies towards this level are to be faded, and to be sold on signs of exhaustion. A break below the recent lows is also seen as a selling opportunity.
GBP/USD — The trading session was extremely bearish for the pound on Wednesday. However, the 1.28 level below looks supportive. So, pullbacks are buying opportunities. A break below the recent lows is very negative for the pound, and the next target to the downside is the 1.27 level. However, you can expect a lot of back and forth movements in the market at the moment.