GBP USD, “Great Britain Pound vs US Dollar”
As we can see at the H4 chart, the GBP/USD pair is being corrected downwards and has already reached the retracement of 38.2%. The next downside targets are the retracement of 50.0% and 61.8% at 1.3900 and 1.3795 respectively. After breaking the high at 1.4345, the instrument may start a new ascending impulse towards the post-correctional extension retracement of 261.8% at 1.4680.
Risk Warning: the results of previous trading operations do not guarantee the same results in the future.
At the H1 chart, the situation is similar and confirms the scenario described above. However, after completing the correction without updating its local lows, the instrument may start a new rising impulse towards the post-correctional extension area between the retracements of 138.2% and 161.8% at 1.34484 and 1.4568 respectively.
Risk Warning: the results of previous trading operations do not guarantee the same results in the future.
EUR JPY, “Euro vs. Japanese Yen”
As we can see at the H4 chart, the EUR/JPY pair is being corrected. After breaking the low at 133.03, the instrument may fall towards the post-correctional extension area between the retracements of 138.2% and 161.8% at 131.78 and 131.00 respectively. However, if the price breaks the local high at 136.30, the pair may grow towards another post-correctional extension area between the retracements of 138.2% and 161.8% at 137.15 and 137.65 respectively.
Risk Warning: the results of previous trading operations do not guarantee the same results in the future.
At the H1 chart, the convergence made the pair correct the descending impulse by 61.8. In case the correction to the upside continues, the price may reach the retracement of 76.0% at 135.77. The main support level is the local low at 134.13.
Risk Warning: the results of previous trading operations do not guarantee the same results in the future.
RoboForex Analytical Department