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Fibonacci Retracements Analysis 29.09.2021 (GBPUSD, EURJPY)

GBPUSD, “Great Britain Pound vs US Dollar”

As we can see in the daily chart, the asset has stopped consolidating 23.6% fibo; right now, it is moving downwards. this decline may be a signal in favour of a further downtrend towards 38.2% and 50.0% fibo at 1.3166 and 1.2830 respectively. The key resistance is the high at 1.4250.

Fibonacci Retracements Analysis 29.09.2021 GBPUSD_D1
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

In the H1 chart, the asset is forming a short-term pullback after finishing the previous descending impulse. In this case, the correctional targets may be 23.6%, 38.2%, and 50.0% fibo at 1.3570, 1.3600, and 1.3624 respectively. A breakout of the low at 1.3520 will lead to a further downtrend.

Fibonacci Retracements Analysis 29.09.2021 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 rebounding from the low at 127.93, EURJPY is moving upwards to extend the correction to reach 50.0% and 61.8% fibo at 131.03 and 131.75 respectively. The key support is the low at 127.93.

Fibonacci Retracements Analysis 29.09.2021 EURJPY_H4
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

The H1 chart shows divergence on MACD, which may indicate a possible pullback after the price reaches 50.0% fibo at 131.03. The downside targets may be 23.6%, 38.2%, and 50.0% fibo at 130.29, 129.85, and 129.48 respectively.

Fibonacci Retracements Analysis 29.09.2021 EURJPY_H1
Risk Warning: the result of previous trading operations do not guarantee the same results in the future


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