EUR USD, “Euro vs US Dollar”
The EUR/USD pair rebounded from the group of upside fibo-levels and resumed moving downwards. The closest target for bears is the group of retracements at 1.0825. If later the price rebounds from this area, the market may start a local ascending correction.
At the H1 chart, the pair may continue falling during the day. The closest target for bears is the retracement of 38.2% at 1.0820. If later the pair rebounds from this level, the market may start a new ascending correction.
EUR GBP, “Euro vs Great Britain Pound”
The EUR/GBP pair failed to stay above the local target area at 0.8490, so right now it is falling. If later the market rebounds from the group of downside fibo-levels, the price may resume moving upwards to reach its upside targets.
On Wednesday, bears may test the retracement of 78.6%. If they rebound from this level, the market may start a new ascending movement. In this case, the main target for bulls will be at 0.8420 (the retracement of 50%).
RoboForex Analytical Department