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Fibonacci Retracements Analysis 30.12.2020 (GBPUSD, EURJPY)

GBPUSD, “Great Britain Pound vs US Dollar”

As we can see in the H4 chart, a divergence on MACD made the pair stop its ascending movement after a test of the high at 1.3624. possibly, the pair may start a new decline towards 50.0%, 61.8%, and 76.0% fibo at 1.3150, 1.3037, and 1.2904 respectively. However, if the asset does break the high, the price will continue growing to reach the long-term 61.8% fibo at 1.3664 and then enter the post-correctional extension area between 138.2% and 161.8% fibo at 1.3790 and 1.3980 respectively.

GBPUSD_H4
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

In the H1 chart, after testing the high, the pair is correcting downwards and has already reached 61.8% fibo. Later, the asset may grow to break the high and then continue moving towards the local post-correctional extension area between 138.2% and 161.8% fibo at 1.3790 and 1.3892 respectively. On the other hand, a breakout of the local support at 1.3188 will lead to further mid-term correction.

GBPUSD_H1
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

EURJPY, “Euro vs. Japanese Yen”

In the H4 chart, after re-testing the high at 127.01, EURJPY is forming a divergence on MACD, which may hint at a new decline. However, after finishing the pullback, the pair is expected to resume growing to break the high and reach the mid-term 61.8% fibo at 128.65, as well as the post-correctional extension area between 138.2% and 161.8% fibo at 129.16 and 130.40 respectively.

EURJPY_H4
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

The H1 chart shows potential correctional targets after a divergence on MACD. The key targets may be 23.6%, 38.2%, and 50.0% fibo at 126.20, 125.55, and 125.04 respectively. A breakout of the local high at 127.23 will hint at further uptrend.

EURJPY_H1
Risk Warning: the result of previous trading operations do not guarantee the same results in the future


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