GBPUSD, “Great Britain Pound vs US Dollar”
As we can see in the H4 chart, GBPUSD has reached 38.2% fibo after convergence on MACD. It looks like the pair is starting a new decline towards the key support at 1.3160. At the same time, an opposite scenario implies another rising impulse to reach 50.0% and 61.8% fibo at 1.3497 and 1.3577 respectively. if the market breaks the support, it will continue falling towards the long-term 50.0% fibo at 1.2830.
The H1 chart shows that the price is correcting to the downside after local divergence on MACD; the targets are 23.6%, 38.2%, 50.0%, and 61.8% fibo at 1.3394, 1.3351, 1.3317, and 1.3283 respectively. the resistance is the high at 1.3462.
EURJPY, “Euro vs. Japanese Yen”
As we can see in the H4 chart, EURJPY is correcting upwards after convergence on MACD; it has already reached 38.2% fibo and may later continue towards 50.0% and 61.8% fibo at 130.44 and 131.15 respectively. After the pullback is over, the asset may resume falling to break the low at 127.38 and then reach the long-term 61.8% fibo at 126.40.
The H1 chart shows that the pair is falling after divergence on MACD; the correctional targets are 23.6%, 38.2%, 50.0%, and 61.8% fibo at 129.58, 1298.18, 128.87, and 128.55 respectively. The support is the low at 127.52, while the resistance is the high at 130.22.
