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GBP USD, “Great Britain Pound vs US Dollar”
As we can see at the H4 chart, the GBP/USD pair is being corrected. By now, it has been corrected by 23.6%. The next targets of the correction may be the retracements of 38.2% and 50.0% at 1.3319 and 1.3215 respectively. The closest resistance level is at 1.3657.
At the H1 chart, the situation is quite similar, but more detailed.
EUR JPY, “Euro vs. Japanese Yen”
As we can see at the H4 chart, after finishing the divergence, the EUR/JPY pair has been corrected by 23.6% and may continue this correction deeper. The targets of the correction may be the retracements of 38.2% and 50.0% at 132.95 and 132.52 respectively. The resistance level is at 134.40.
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At the H1 chart, the situation confirms the H4 chart scenario.
RoboForex Analytical Department
Article By RoboForex.com
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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.