EUR USD, “Euro vs US Dollar”
The EUR/USD pair is still consolidating above 1.1230, which means that it may continue growing towards the next target area at 1.1350 – 1.1320. If later the price rebounds from this area, the market may start a new bearish correction.
At the H1 chart, the pair may test the local correctional retracement of 38.2%. If the price rebounds from this level, the market may resume growing towards its upside targets. It’s highly likely that the pair may reach a new local high soon.
EUR GBP, “Euro vs Great Britain Pound”
The EUR/GBP pair rebounded from the group of fibo-levels reached earlier, which means that it may start a new ascending movement. However, if the price rebounds from the upside target area at 0.8770 – 0.8790, the market may start a new bearish correction.
Yesterday, the pair rebounded from the local correctional retracement of 38.2%. As a result, in the nearest future the market may break the local high and test the group of upside fibo-levels.
RoboForex Analytical Department