GBP USD, “Great Britain Pound vs US Dollar”
At the H4 chart, the GBP/USD pair is forming the ascending impulse to reach a new high. The targets of this growth may be inside the post-correctional extension area between the retracements of 138.2% and 161.8% at 1.3452 and 1.3571 respectively.
At the H1 chart, the uptrend seems to be pretty stable, but the divergence, which is being formed at the moment, may indicate a possible correction in the nearest future towards the retracements of 23.6%, 38.2%, 50.0%, and 61.8% at 1.3230, 1.3168, 1.3116, and 1.3070 respectively.
EUR JPY, “Euro vs. Japanese Yen”
As we can see at the H4 chart, the uptrend continues. The targets are inside the post-correctional extension area between the retracements of 138.2% – 161.8% (132.90 – 133.85). The main support level for the current movement is at 129.37.
At the H1 chart, the pair is growing inside the short-term post-correctional extension area. The targets are between the retracements of 138.2% and 161.8% at 132,57 and 133.14 respectively. If the price starts a new descending correction, the targets may be the retracements of 23.6% and 38.2% at 131.40 and 131.04 respectively.
RoboForex Analytical Department
Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex bears no responsibility for trading results based on trading recommendations described in these analytical reviews.