Fibonacci Retracements Analysis 12.06.2017 (EUR/USD, EUR/GBP)

EUR USD, “Euro vs US Dollar”

The EUR/USD pair is testing the group of fibo-levels at 1.1230 – 1.1210 again. If the price rebounds from this area, it may continue the descending correction. The closest target for bears is the area at 1.1020 – 1.0980.

At the H1 chart, the pair may test the local retracement of 61.8% at 1.1238. If the price rebounds from this level, the market may start resume falling and break the previous low.

EUR GBP, “Euro vs Great Britain Pound”

Last week, the EUR/GBP pair tested the target at 0.8780 and rebounded from it. As a result, in the nearest future the market may start a new bearish correction with the closest target at the group of fibo-levels at 0.8685 – 0.8675.

As we can see at the H1 chart, the pair may soon test the correction retracement of 78.6% at 0.8835. if the price rebounds from this level, the market may be corrected to the downside towards the retracement of 38.2% at 0.8675.

RoboForex Analytical Department