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GBP/USD And EUR/JPY Fibonacci Retracements For June 10

Published 06/10/2020, 04:43 AM
Updated 07/09/2023, 06:32 AM
GBP/USD
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EUR/JPY
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GBP/USD

As we see in the daily chart, after breaking the high at 1.2648, GBP/USD is forming a steady rising impulse towards 50.0% and 61.8% Fibonacci at 1.2890 and 1.3240 respectively. The support is at 23.6% Fibonacci at 1.2110.
gbp/usd
The H4 chart shows more detailed structure of the current ascending movement. After completing the descending wave and then forming a new rising one to break high, the pair is moving towards the post-correctional extension area between 138.2% and 161.8% Fibonacci at 1.2865 and 1.3000 respectively. At the same time, there is a divergence on MACD, which may indicate a possible pullback soon.
gbp/usd
EUR/JPY

As we can see in the daily chart, after reaching 38.2% fibo at 123.22, EUR/JPY has started a new pullback. Later, the pair may complete the correction and resume growing towards 50.0% and 61.8% fibo at 125.95 and 128.67 respectively. The support is 23.6% fibo at 119.85.
eur/jpy
In the H4 chart, EUR/JPY is falling towards the support at 23.6% Fibonacci (119.85). After finishing the correction, the instrument may continue trading to reach the post-correctional extension area between 138.2% and 161.8% Fibonacci at 126.08 and 128.10 respectively.
eur/jpy

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