Analysis on Fibonacci on July 20, 2016
EUR USD "Euro to US Dollar"![Analysis on Fibonacci for EUR USD "Euro to US Dollar" on July 20, 2016](https://www.roboforex.ru/files/forecasts/july2016/20/Image20160720145201001.png)
Pullback from correction mark 50% resulted in new coil of Euro-US Dollar descending. Apparently, after completion of local correction, market may continue to descend towards the nearest crowd of fibo-level (1.0810).
![Analysis on Fibonacci for EUR USD "Euro to US Dollar" on July 20, 2016](https://www.roboforex.ru/files/forecasts/july2016/20/Image20160720145201002.png)
Recently, pullback from correction mark 38.2% was on 1 hour chart. Currently market is corrected, but soon resuming of descending towards lower targets, that are confirmed by local fibo-levels, is possible.
EUR GBP "Euro to British Pound"![Analysis on Fibonacci for EUR GBP "Euro to British Pound" on July 20, 2016](https://www.roboforex.ru/files/forecasts/july2016/20/Image20160720145201003.png)
Cross pair, apparently, soon will continue descending correction because price could not fix above mark 23.6%. Possible bearish target is fibo-level 50% (0.8110).
![Analysis on Fibonacci for EUR GBP "Euro to British Pound" on July 20, 2016](https://www.roboforex.ru/files/forecasts/july2016/20/Image20160720145201004.png)
Double pullback from local correction mark 78.6% was on 1 hour chart that pointed on possibillity of resuming of quotation descending. So, soon breakage of last week low is possible.