Fibo Analysis: GBP/USD and USD/JPY, 19.09.2018

GBP/USD

On H4, the GBP/USD continues its uptrend. The pullback is over, the latest high is broken out, and the new rising impulse is already inside a post correctional extension of 138.2%-161.8%, or 1.3143-1.3203. The major midterm uptrend target, though, is 38.2% (1.3316), while the local support is at 1.3043.

On H1, GBP/USD is forming an uptrend and a divergence, which may signal that the market will start correcting after reaching its target. This target may be located at at 23.60% Fibo ($1.3104), 38.20% ($1.3043), or 50.00% ($1.2994).

EUR/JPY

On H4, the EUR/JPY correctional fall has come to an end, and now, after hitting the high, the price is heading into the post correctional extension between 138.2%-161.8% Fibo, or 132.00-132.73 yens. While the price is going up, a divergence is forming, with the major support still at 127.86.

On H1, the EUR/JPY is uptrending and diverging, too. After reaching its target, the price may pull back to 23.6% (131.58), 38.2% (130.87), or 50.0% (130.29).