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.
In the H1 chart, the uptrend has reached the retracement of 76.0% and may continue growing towards the high at 125.94.
