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GBPUSD, “Great Britain Pound vs US Dollar”
As we can see in the H4 chart, after completing the correctional downtrend, GBPUSD started a new rising impulse, which has already reached the retracement of 61.8%. However, right now the price is expected to start a short-term pullback. The next upside targets will be at 1.3109 (the retracements of 76.0%) and the high at 1.3216. The support level is at 1.2806.
In the H1 chart, the pair is starting a new correctional downtrend. The possible downside target are the retracements of 23.6%, 38.2%, and 50.0% at 1.3033, 1.3007, and 1.2986 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 testing the high at 125.94. If the price breaks this level, the instrument may continue growing to reach towards the mid-term targets, the retracements of 61.8% and 76.0% at 127.34 and 129.48 respectively.
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In the H1 chart, the instrument is testing the high. The support level is at 124.05.
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.