Article By RoboForex.com
GBPUSD, “Great Britain Pound vs US Dollar”
As we can see in the H4 chart, after reaching the retracement of 38.2%, GBPUSD slowed down a bit. In case the downtrend continues, the targets will be the retracements of 50.0% and 61.8% at 1.2807 and 1.2710 respectively. However, if the price continues growing, the targets may be the high at 1.3216 and the long-term retracements of 50.0% at 1.3386.
In the H1 chart, the convergence made the pair reverse and start a new uptrend. Which is getting closer to the retracements of 23.6%, 38.2%, and 50.0% at 1.2923, 1.2978, and 1.3024 respectively.
EURJPY, “Euro vs. Japanese Yen”
As we can see in the H4 chart, after failing to reach the retracement of 23.6%, EURJPY started a new growth, which is heading towards the high at 125.94. If the price breaks this level, the instrument may continue growing to reach towards the post-correctional extension area between the retracements of 138.2% and 161.8% at 126.62 and 127.04 respectively.
Free Reports:
In the H1 chart, the uptrend has reached the retracement of 76.0% and may continue growing towards the high at 125.94.
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.