Fibo Analysis for GBP/USD and USD/JPY: July 18, 2018

18.07.2018

GBP/USD

On H4, the GBP/USD is correcting and range-trading. Once the low at 1.3049 gets broken out, the price may move to the post correctional extension of 138.20% to 161.80% Fibo, or 1.2931 to 1.2858. If a correctional uptrend goes ahead, the price may reach 38.20%, or 1.3555, and 50.00%, or 1.3712.

GBPUSD1
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

On H1, GBP/USD is forming a downtrend towards 1.3049, with the resistance being at the 1.3363 high.

GBPUSD2
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

EUR/JPY

On H4, the EUR/JPY uptrend has reached the 50.00% Fibo level. The price may continue rising to reach 61.80%, or 132.56, but the divergence is forming, which may signal a reversal is near. The next levels may lie at 23.60%, or 130.24, 38.20%, or 129.16, and at 50.0%, or 128.30.

EURJPY1
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

On H1, the EUR/JPY is conforming a local divergence, which may be an additional reversal signal.

EURJPY2
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

Trading analysis & analytics

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Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex bears no responsibility for trading results based on trading recommendations described in these analytical reviews.