Fibonacci Retracements Analysis 22.11.2017 (GBP/USD, EUR/JPY)

GBP USD, “Great Britain Pound vs US Dollar”

As we can see at the H4 chart, the GBP/USD pair is still being corrected inside the mid-term flat and has already reached the retracement of 50.0%. In the future, the correction may continue both upwards and downwards. The upside targets are the retracement of 61.8% and 76.0% at 1.3416 and 1.3506. And if the price breaks the low at 1.3026, the instrument may fall towards the post-correctional extension area between the retracements of 138.2% and 161.8% at 1.2910 and 1.2836 respectively.

At the H1 chart, the divergence completed and the pair started a new correction, which has already reached the retracement of 23.6%. The next targets are the retracements of 38.2%, 50.0%, and 61.8% at 1.3195, 1.3169, and 1.3144 respectively. If the price breaks the high at 1.3279, it may continue growing to reach 1.3343.

EUR JPY, “Euro vs. Japanese Yen”

As we can see at the H4 chart, the EUR/JPY pair is forming a descending impulse with the targets inside the post-correctional extension area between the retracements of 138.2% and 161.8% at 130.45 and 129.87 respectively.

At the H1 chart, the pair is being corrected to the upside and 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 132.52 and 132.84 respectively. The support level is at 131.16.

RoboForex Analytical Department