EUR USD, “Euro vs US Dollar”
The EUR/USD pair is still moving downwards. The closest target for bears is the group of fibo-levels at 1.0535 – 1.0525. If later the price rebounds from this area, the market may start a new ascending correction.
At the H1 chart, the closest targets are confirmed by intraday fibo-levels. As a result, in the nearest future the market may break the low and test the downside target area. The future scenario depends on how the pair will move there.
EUR GBP, “Euro vs Great Britain Pound”
The EUR/GBP pair rebounded from the group of local fibo-levels and right now is trying to resume its growth. The closest target for bulls is the retracement of 38.2%. If later the price breaks this level, the market may continue moving upwards.
At the H1 chart, the pair rebounded from the local retracement of 78.6%. Consequently, during the day price may break yesterday’s high. The upside targets are confirmed by local fibo-levels.
RoboForex Analytical Department