Article By RoboForex.com
GBPUSD, “Great Britain Pound vs US Dollar”
In the H4 chart, the technical situation hasn’t changed much as GBPUSD is still testing the mid-term 23.6% fibo. In addition to that, the pair has failed to reach both the local and key (1.4241) highs, which means that the asset is about to start another wave to the downside. the closest target may be 38.2% fibo at 1.3643, while the next ones – 50.0% and 61.8% fibo at 1.3457 and 1.3237 respectively.
The H1 chart shows that after correcting to the upside and reaching 61.8% fibo at 1.4022, the asset couldn’t test or break it. Also, there was a local divergence on MACD, which made the pair start a new decline. By now, this descending wave has tested 50.0% fibo twice, while the next one may reach 61.8% and 76.0% fibo at 1.3799 and 1.3751 respectively. A breakout of the low at 1.3669 may lead to a further mid-term downtrend towards the post-correctional extension area between 138.2% and 161.8% fibo at 1.3540 and 1.3459 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, a previous divergence couldn’t force the asset to fall, so the pair, after breaking the high at 130.98, is heading to reach the long-term 76.0% fibo at 131.95. However, this is another divergence on MACD, so the instrument should be ready for a new correction towards the local support at 61.8% fibo (128.67).
The H1 chart shows a further uptrend towards the post-correctional extension area between 138.2% and 161.8% fibo at 131.57 and 132.13 respectively.
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.
- The situation in the Middle East remains uncertain May 22, 2026
- USD/JPY: Second Consecutive Week Closes Higher May 22, 2026
- Australia’s labor‑market data disappoint. New Zealand’s trade balance shows a record surplus May 21, 2026
- GBP/USD Recovers Amid UK Inflation Data: Positive Signals Emerge May 21, 2026
- The People’s Bank of China keeps lending rates unchanged. The Canadian dollar weakens amid falling inflation May 20, 2026
- EUR/USD Near Six-Week Low as Market Tensions Rise May 20, 2026
- Oil prices remain volatile. The Reserve Bank of Australia signals further rate hikes May 19, 2026
- Gold Recovers Some Losses: What’s Driving the Market? May 19, 2026
- Economic activity in China is slowing. Silver has fallen by more than 8% May 18, 2026
- USD/JPY Rises for Sixth Straight Day: Yen Back on the Cusp of Intervention May 18, 2026
