Fibonacci Retracements Analysis 13.09.2017 (GBP/USD, EUR/JPY)

GBP USD, “Great Britain Pound vs US Dollar”

At the H4 chart, the GBP/USD pair is forming the ascending impulse to reach a new high. The targets of this growth may be inside the post-correctional extension area between the retracements of 138.2% and 161.8% at 1.3452 and 1.3571 respectively.

At the H1 chart, the uptrend seems to be pretty stable, but the divergence, which is being formed at the moment, may indicate a possible correction in the nearest future towards the retracements of 23.6%, 38.2%, 50.0%, and 61.8% at 1.3230, 1.3168, 1.3116, and 1.3070 respectively.

EUR JPY, “Euro vs. Japanese Yen”

As we can see at the H4 chart, the uptrend continues. The targets are inside the post-correctional extension area between the retracements of 138.2% – 161.8% (132.90 – 133.85). The main support level for the current movement is at 129.37.

At the H1 chart, the pair is growing inside the short-term post-correctional extension area. The targets are between the retracements of 138.2% and 161.8% at 132,57 and 133.14 respectively. If the price starts a new descending correction, the targets may be the retracements of 23.6% and 38.2% at 131.40 and 131.04 respectively.

RoboForex Analytical Department