GBPUSD, “Great Britain Pound vs US Dollar”
As we can see in the H4 chart, the convergence made GBPUSD reverse and start a new ascending impulse, which has already reached the retracement of 61.8%. The targets of the short-term uptrend are the retracements of 38.2% and 50.0% at 1.3953 and 1.4029 respectively. Whoever, the price may yet continue falling towards the retracement of 76.0% at 1.3672, but only after finishing the ascending impulse.
Risk Warning: the results of previous trading operations do not guarantee the same results in the future.
In the H1 chart, the pair is steadily growing towards its targets.
Risk Warning: the results of previous trading operations do not guarantee the same results in the future.
EURJPY, “Euro vs. Japanese Yen”
In the H4 chart, the convergence made EURJPY reverse and start a new rising correction, which has already reached the retracement of 23.6% and may continue trading towards the retracements of 38.2% and 50.0% at 132.45 and 133.40 respectively.
Risk Warning: the results of previous trading operations do not guarantee the same results in the future.
In the H1 chart, the situation is similar and confirms the scenario described above.
Risk Warning: the results of previous trading operations do not guarantee the same results in the future.
RoboForex Analytical Department