Fibonacci analysis for EUR/USD and EUR/GBP on 24.02.2016

The Euro Dollar continues to decline, the beginning of which was the rebound from the congestion of the upper fibo-levels. In the short term, the pair may decline further. The immediate target appears to be the pricing area in the vicinity of 1.0930, a retreat from which will signal to an upward correction.





On the hourly chart, after a rebound from the correctional level of 38.2% there was a breakdown of the local minimum. Lower targets are confirmed by intraday Fibo levels. During the day, a further decline of the currency pair is possible.



EUR GBP "Euro to British pound"



Presumably, the cross is heading to retest the upper cluster of Fibo levels. If it is followed by a break down, the resumption of decline of the currency pair towards lower targets (0.7670) will be possible.





On the hourly chart, the price is trading near a local maximum. Subsequently, with the rebound from this mark down, the beginning of a new round of decline of the cross towards lower targets is possible.