Investing.com UK - Financial Markets Worldwide
Get 40% Off
Get 40% Off
👀 👁 🧿 All eyes on Biogen, up +4,56% after posting earnings. Our AI picked it in March 2024.
Which stocks will surge next?
Unlock AI-picked Stocks

Fibonacci Retracements Analysis GBP/USD, EUR/JPY

ByDmitriy Gurkovskiy
Published 30/09/2020, 10:38
Updated 09/07/2023, 11:32

GBP/USD
As we can see in the H4 chart, after a rebound from 38.2% fibo and a local convergence on MACD, GBP/USD is growing towards 23.6% fibo, which may be a signal in favor of a new mid-term rising wave to reach the high at 1.3482. After breaking it, the pair may continue moving towards the long-term 76.0% fibo at 1,3661. However, despite the convergence and the current growth, the asset may yet update the low and reach 50.0% fibo at 1.2445.
GBPUSD_H4
The H1 chart shows a more detailed structure of the current pullback after the convergence on MACD. After reaching 23.6% fibo, the pair is consolidating around this level. If later the price breaks this range to the upside, the market may continue growing towards 38.2%, 50.0%, and 61.8% fibo at 1.2983, 1.3078, and 1.3174 respectively. The support is the high at 1.2675.
GBPUSD_H1
EUR/JPY
As we can see in the H4 chart, after rebounding from the support at 38.2% fibo, EUR/JPY has returned to 23.6% fibo, which may be a signal in favor of a possible growth. However, as long as the price is moving below the high at 127.08, it’s only an assumption. The asset may reach the long-term 61.8% fibo at 128.65 only after breaking the above-mentioned peak. Despite a quick correctional wave to the upside, the pair may yet start a new decline towards 50.0% fibo at 121.20.
EURJPY_H4
In the H1 chart, the instrument has reached 38.2% fibo after the convergence on MACD. In the future, the pair may form a short-term pullback and then resume growing towards 50.0% and 61.8% fibo at 124.73 and 125.28 respectively. The support is the low at 122.38.
EURJPY_H1

3rd party Ad. Not an offer or recommendation by Investing.com. See disclosure here or remove ads .

Latest comments

Install Our App
Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.