Fibonacci Retracements Analysis 23.05.2017 (EUR/USD, EUR/GBP)

EUR USD "Euro vs US Dollar"

The pair is returning under the group of Fibo-levels near 1.1230 - 1.1210. If the price manages to hold under this area, a correction towards the area near 1.1130 - 1.1120 will be possible.

On the H1-chart, the price has failed to hold above the 1.1330 level and triggered a new correction. The nearest target for the bears is a group of Fibo-levels near 1.1130 - 1.1120. If the pair breaks and holds under it, the price can start falling faster.

EUR GBP "Euro vs Great Britain Pound"

After the pair rebounded from the 38.2% correction mark, it continued rising. In the near-term we can see a next round of climbing higher towards a group of Fibo-levels near 0.8710 - 0.8685. If the lower edge of this group of levels is rebounded from, this will be seen as a signal for a local descending move.

The upper targets are confirmed by the local Fibo-levels on H1-chart. If afterwards this area is rebounded from, a downside correction can be possible which can lower the price to 0.8610 - 0.8605.