GBP USD, “Great Britain Pound vs US Dollar”
At the H4 chart, the GBP/USD pair is still consolidating. The short-term downtrend is slowly transforming into a sideways correction. In the nearest future, the price may grow towards the retracement of 76.0% at 1.3488 and then reach the high at 1.3549. 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 1.3645 and 1.3704 respectively.
At the H1 chart, the pair is consolidating inside a triangle pattern. The future scenario depends on which border of the pattern the price breaks.
At the H4 chart, the EUR/JPY pair is trying to form a new ascending impulse. In the nearest future, the price may be corrected towards the retracements of 38.2% and 50.0% at 133.816 and 133.504 respectively. However, the first target of the above-mentioned ascending impulse may be the current high at 134.878. After breaking it, the price may move towards the post-correctional extension area between the retracements of 138.2% and 161.8% at 135.77 and 136.53 respectively.
At the H1 chart, the situation is similar and confirms the scenario described above.
RoboForex Analytical Department