Article By RoboForex.com
GBPUSD, “Great Britain Pound vs US Dollar”
As we can see in the daily chart, after testing 76.0% fibo, GBPUSD has finally broken it and may later continue growing to reach the long-term high at 1.4376. The support here is at 61.8% fibo at 1.3244. At the same time, a divergence on MACD may hint at a new pullback soon.
In the H1 chart, after finishing the previous correctional wave at 38.2% fibo (1.3541), GBPUSD is forming a new rising structure, which has already broken the previous high and may soon enter the post-correctional extension area between 138.2% and 161.8% fibo at 1.3790 and 1.3980 respectively.
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”
In the H4 chart, EURJPY continues testing the high at 127.07 and trying to break it. If the price breaks the high and fixes above it, the asset may grow to break the mid-term 61.8% fibo at 128.65 and then continue moving to reach the post-correctional extension area between 138.2% and 161.8% fibo at 129.16 and 130.43 respectively.
As we can see In the H1 chart, the current trading range is getting narrower after the price has re-tested the high. The key resistance is the high at 127.49. The previous decline reached 50.0% fibo, so the next one may be heading towards 61.8% fibo at 124.62. Still, this scenario may no longer be valid if the asset breaks the high.
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
