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Fibonacci Retracement Analysis 10.11.2021 (GBPUSD, EURJPY)

GBPUSD, “Great Britain Pound vs US Dollar”

On D1, the pair is developing a wave of decline, breaking through 23.6% Fibo. The next medium-term goals of the decline will be 38.2% (1.3166) and 50.0% (1.2830). The main resistance level is the high of 1.4250.

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

On H1, there is correctional growth. The pullback has reached 38.2% Fibo and is ready to proceed to 50.0% (1.3629) and 61.8% (1.3677). A breakaway of the local low of 1.3424 will signal about further development of the downtrend.

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

EURJPY, “Euro vs Japanese Yen”

On D1, the last impulse of growth failed to test the area of the high at 134.12. The current decline can be either a pullback after growth or the beginning of a wave of decline to 50.0% (127.87) and 61.8% (126.40) Fibo. A breakaway of the high can open a pathway to the post-correctional extension area of 138.2-161.8% (136.46-137.92).

EURJPY_D1
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

On H1, there is a decline as a correction of the preceding wave of growth. The quotations are over 50.0% and are heading for 61.8% (130.30). However, note a local convergence forming on the MACD, which might mean an approaching reversal upwards, to the resistance level of 133.48.

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


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