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GBP USD, “Great Britain Pound vs US Dollar”
As we can see at the H4 chart, the GBP/USD pair has reached its intermediate targets and right now is still trading upwards. The closest target is the retracement of 423.6% at 1.4105. After reaching it, the instrument may start a new correction to the downside.
At the H1 chart, the situation is similar and confirms the scenario described above. The correctional targets may be the retracements of 23.6%, 38.2%, and 50.0% at 1.3050, 1.3858, and 1.3777 respectively.
EUR JPY, “Euro vs. Japanese Yen”
As we can see at the H4 chart, a new ascending impulse hasn’t been able to break the local high at 136.63, but may yet try again. After breaking the high, the instrument may continue growing towards the post-correctional extension area between the retracements of 138.2% and 161.8% at 138.00 and 138.85 respectively.
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At the H1 chart, the pair is forming a local correction. The targets are the retracements of 38.2% and 50.0% at 135.40 and 134.67 respectively.
RoboForex Analytical Department
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.