Fibonacci Retracements Analysis 14.11.2018 (GBPUSD, EURJPY)

14.11.2018

GBPUSD, “Great Britain Pound vs US Dollar”

As we can see in the H4 chart, after being corrected to the upside by 76.0%, GBPUSD has started a new descending impulse. Possibly, right now the price is forming a mid-term sideways channel between 1.2662 and 1.3298. If the pair breaks the resistance at 1.3298, the instrument may continue growing to reach the retracement of 50.0% at 1.3517.

GBPUSD1
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

In the H1 chart, GBPUSD is being corrected upwards and has already reached the retracement of 61.8%. The next targets may be the retracement of 76.0% at 1.3090 and the high at 1.3174. The support level is the local low at 1.2827.

GBPUSD2
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

EURJPY, “Euro vs. Japanese Yen”

As we can see in the H4 chart, the correctional downtrend has reached the retracement of 76.0%. Right now, the price is forming a new rising impulse. The closest upside target may be the high at 130.15. If the price breaks it, the instrument may continue growing to reach the retracements of 61.8% and 76.0% at 130.65 and 131.56.

EURJPY1
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

In the H1 chart, the correctional uptrend continues; it has already reached the retracement of 50.0%. The next possible upside targets may be the retracements of 61.8% and 76.0% at 129.14 and 129.52 respectively.

EURJPY2
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

Attention!

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.