Fibonacci Retracements Analysis 08.06.2017 (EUR/USD, EUR/GBP)

EUR USD, “Euro vs US Dollar”

The EUR/USD pair rebounded again from the group of fibo-levels at 1.1230 – 1.1210, which means that it may resume growing. The closest target for bulls is the area at 1.1350 – 1.1320. If later the price rebounds from this area, the market may start a new bearish correction.

Yesterday, the pair rebounded from the local correctional retracement of 38.2%. Later, after finishing the correction, the price may resume growing and break the previous high.

EUR GBP, “Euro vs Great Britain Pound”

The EUR/GBP pair is testing the downside border of the group of fibo-levels at 0.8675. If this level is broken, the price may continue its descending movement towards the target area at 0.8625 – 0.8605.

As we can see at the H1 chart, the pair rebounded from its upside targets and started a new correction. If on Thursday the price fixes below the group of fibo-levels reached earlier, the market will continue growing towards its closest targets at 0.8625 – 0.8605.

RoboForex Analytical Department