Fibonacci Retracements Analysis 10.01.2018 (GBP/USD, EUR/JPY)

January 10, 2018

Article By RoboForex.com

GBP USD, “Great Britain Pound vs US Dollar”

At the H4 chart, the GBP/USD pair finished the ascending impulse and started a new correction, which has already reached the retracement of 38.2%. The next targets of this correction may be the retracements of 50.0% and 61.8% at 1.3472 and 1.3438 respectively. The main trend remains bullish; the current movement is just a pullback towards the broken high. The main upside targets are still inside the post-correctional extension area between the retracements of 138.2% and 161.8% at 1.3645 and 1.3702 respectively.

GBPUSD1

At the H1 chart, the situation is similar and confirms the scenario described above.


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GBPUSD2

 

EUR JPY, “Euro vs. Japanese Yen”

At the H4 chart, after reaching the targets inside the post-correctional extension area between the retracements of 138.2% and 161.8%, the EUR/JPY pair started a new correction, which has already reached the retracement of 61.8%. The next targets of the current decline may be the retracement of 76.0% at 133.16. After breaking the low at 132.05, the long-term tendency may reverse.

EURJPY1

At the H1 chart, the pair may reach significant support levels and then start a new ascending correction towards the retracement of 50.0% at 134.35.

EURJPY2

 

RoboForex Analytical Department

Article By RoboForex.com

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Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex LP bears no responsibility for trading results based on trading recommendations described in these analytical reviews.