GBP USD, “Great Britain Pound vs US Dollar”
At the H4 chart, the downtrend continues. The GBP/USD pair has already reached the retracement of 50.0% and may continue falling towards the one of 61.8% at 1.3235. After reaching its correctional targets, the price may reverse upwards with possible targets close to the high at 1.3548. After breaking it, the instrument may continue growing to reach the post-correctional extension area between the retracements of 138.2% and 161.8% at 1.3665 and 1.3739 respectively.
At the H1 chart, the pair is forming the ascending impulse towards the current high at 1.3418. After breaking it, the price may move towards the post-correctional extension area between the retracements of 138.2% and 161.8% at 1.3452 and 1.3473 respectively.
EUR JPY, “Euro vs. Japanese Yen”
At the H4 chart, the EUR/JPY pair is being corrected sideways. The main target of the current short-term ascending impulse is the high at 134.39. After breaking it, the price may move towards the post-correctional extension area between the retracements of 138.2% and 161.8% at 135.26 and 135.80 respectively.
As we can see at the H1 chart, the pair is trading upwards. After reaching the high at 134.39, the price may start a new descending correction towards the retracements of 23.6%, 38.2%, and 50.0% at 133.85, 133.52, and 133.25 respectively.
RoboForex Analytical Department