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Welcome to mid-week trading, forex warriors!

Have you bagged tons of pips yet? Me, I just want you to find 11,780 pips (and more!) this year.

For now, see how many you can sneak in from trading AUD/USD and EUR/GBP‘s charts!

EUR/GBP: 1-hour

EUR/GBP 1-hour Forex Chart
EUR/GBP 1-hour Forex Chart

EUR/GBP is consolidating in a tight range just above .9000, which is interesting because the pair is only a few pips away from the top of a descending channel on the 1-hour time frame.

Think the euro is about to extend its downtrend against the pound?

Shorting as soon as EUR/GBP drops below its January range is a good play especially if you’re aiming for a trip to the .8900 previous lows and you place your stops just above the channel.

Meanwhile, euro bulls and pound bears can watch out for a clear break above the trend line resistance, which could lead to retests of the .9100 or .9150 previous inflection points.

AUD/USD: Weekly

AUD/USD Weekly Forex Chart
AUD/USD Weekly Forex Chart

AUD/USD looks ready to bust through the .7750 handle that had served as a key support and resistance level from 2017 through 2018.

If you think that this is a legit breakout, then you can start looking at a potential trip to the .8000 major psychological handle or even the .8100 previous resistance level.

Not convinced that the Aussie can gain more pips against the dollar in the next few weeks? You can wait for hesitation or reversal candlesticks and then put up some Fibs in case AUD/USD doesn’t close its current candle above the .7750 area.

Whichever bias you end up trading, make sure to make detailed trading plans so you don’t get blindsided by unusual price moves!