Fibonacci Retracements Analysis 26.04.2017 (EUR/USD, EUR/GBP)
EUR USD, “Euro vs US Dollar”
The EUR/USD pair rebounded from the group of local fibo-levels, which means that the price may start a new descending correction. The closest target for bears is the area at 1.0755.
At the H1 chart, the target area at 1.0755 is confirmed by intraday fibo-levels. It’s highly likely that on Wednesday the price may continue moving downwards to reach the above-mentioned area.
EUR GBP, “Euro vs Great Britain Pound”
The EUR/GBP pair is still consolidating after Monday’s gap. In the nearest future, the market may be corrected towards the retracement of 50%. If later the price rebounds from this level, the pair may move upwards to reach the target area at 0.8700.
As we can see at the H1 chart, the correctional retracement of 50% is confirmed by local fibo-levels. If later the price breaks this level, the correction may continue up to the retracement of 61.8%.
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