Article By RoboForex.com
GBPUSD, “Great Britain Pound vs US Dollar”
As we can see in the H4 chart, a divergence on MACD made the pair stop the ascending wave at 61.8% fibo and start a new decline, which failed to reach the local low (the current support). At the same time, extraordinary volatility, which resulted in the growth, didn’t help the asset update its local high, while the decline that followed might as well break the low at 1.2675. If it happens, the instrument may continue falling to reach the mid-term 50.0% fibo at 1.2448.
The H1 chart shows a more detailed structure of the current correction. The first descending wave reached 61.8% fibo and was followed by a convergence on MACD and a new wave to the upside. However, the next descending structure may be heading towards 76.0% fibo at 1.2796 and the low at 1.2657. However, if the instrument breaks the resistance at 1.3177, the correction will be over and the pair may start another growth to reach the mid-term 76.0% fibo at 1.3288.
Free Reports:
Download Our Metatrader 4 Indicators – Put Our Free MetaTrader 4 Custom Indicators on your charts when you join our Weekly Newsletter
Get our Weekly Commitment of Traders Reports - See where the biggest traders (Hedge Funds and Commercial Hedgers) are positioned in the futures markets on a weekly basis.
EURJPY, “Euro vs. Japanese Yen”
As we can see in the H4 chart, after breaking its previous low, EURJPY continues trading downwards. The closest downside target is 76.0% fibo at 121.18, while the key one is the fractal low at 119.31. In the short-term, the instrument is expected to continue the correction.
The H1 chart shows a more detailed structure of the current ascending correction after a convergence on MACD. By now, the pair has already reached 38.2% fibo and may later continue moving towards 50.0% and 61.8% fibo at 123.31 and 123.70 respectively. However, the main scenario remains bearish and implies further decline to reach the local low at 121.62.
Article By RoboForex.com
Attention!
Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex LP bears no responsibility for trading results based on trading recommendations described in these analytical reviews.
- Optimism surrounding the US-China summit in Beijing supported the markets May 15, 2026
- Gold Falls on US Inflation Concerns as Week Ends in Losses May 15, 2026
- The oil market may remain in a state of severe supply shortage until autumn May 14, 2026
- GBP/USD Under Policy Pressure: What Lies Ahead for the Prime Minister? May 14, 2026
- European stock markets declined amid rising concerns about an energy crisis May 13, 2026
- USD/JPY Continues to Climb Amid External and Domestic Pressures May 13, 2026
- You can change your emotions – but it’s a 2‑step process that takes some effort May 12, 2026
- The United States rejected Iran’s proposal for resolving the conflict. Oil prices surged again May 12, 2026
- EUR/USD on Edge: Middle East and China in Focus May 12, 2026
- The US stock indices continue to set new records. China’s exports showed a sharp increase May 11, 2026
