Article By RoboForex.com
GBPUSD, “Great Britain Pound vs US Dollar”
On D1, there is correctional growth after another attempt to break through 23.6% Fibo. This growth might turn into a wave of growth, aiming at a breakaway of the high of 1.4250, but the bearish wave has not come to an end yet. A test of the high is likely to end in a bounce off it and a new wave of decline towards 38.2% (1.3419) and 50.0% (1.3161).
On H4, the uptrend inside the correction can be seen in more detail. The wave broke through 50.0% and tried to test 61.8% (1.3991) Fibo. A short-term pullback is temporary. Another impulse of growth towards 76.0% (1.4086) should follow. This level will be reached as the last phase of the ascending correction before another impulse of decline. Such an impulse will aim at breaking through the low of 1.3572 and reaching the medium-term goal of 38.2% (1.3419).
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”
On H4, the downtrend keeps developing. Another decline aims at the low of 128.60. Breaking through it, the quotations may reach the medium-term level of 50.0% (127.87) Fibo. However, while the low has not been broken yet, we should still keep the extension of the correction in mind. The main resistance is still the high of 134.12.
On H1, a descending movement is still developing after a divergence on the MACD. The quotations are testing 61.8%, and then they will head for 76.0% (129.07) Fibo and the low of 128.60. If the price bounces off the low, the new wave of growth, breaking through the current resistance of 130.56, will head for 38.2% (130.71) and 50.0% (131.37) to extend the correctional phase.
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.
- Bitcoin has dropped below $70,000. The Bank of Mexico held its rate at 7% Feb 6, 2026
- Gold Closes with a Decline for the Second Week in a Row: Fewer Risks Feb 6, 2026
- The British Index has hit a new all-time high. Silver has plummeted by 16% Feb 5, 2026
- GBP/USD Under Local Pressure: Focus on Bank of England Signals Feb 5, 2026
- Bitcoin has plummeted to a 14-month low. Silver jumped by more than 10% Feb 4, 2026
- Gold is Back in the Black: Geopolitics Dictates Conditions Again Feb 4, 2026
- US natural gas prices collapsed by 21%. The RBA raised its interest rate by 0.25% Feb 3, 2026
- What goes up must come down… Feb 2, 2026
- Donald Trump appoints a new successor for the Fed chair. Precious metals hit by sell-off Feb 2, 2026
- USDJPY Realises Correction: BOJ Policy Weighs on Yen Feb 2, 2026
