Fibo Analysis: GBPUSD and EURJPY, 20/03/2019

GBPUSD

On H4, the GBPUSD started trading sideways after breaking out the latest high. Once the pullback is over, the price may rise to the are between 138.20% and 161.80% Fibo, or 1.3497 to 1.3590. The major support is meanwhile at 1.2960.

On H1, the GBPUSD is forming a correction trend that reached 38.20% Fibo and may go ahead to reach 50%, or $1.3171, and 61.80%, or $1.3121. The resistance is meanwhile at the high of 1.3381.

EURJPY

On H4, the EURJPY reached 76% Fibo, with the next target lying at the high of $127.50. Once it gets broken out, the price will probably head to the area between 138.2% and 161.80% Fibo, or 128.73 to 129.47. The local support is meanwhile at 125.51, while the major one is at 124.27.

On H1, the EURJPY is uptrending, but diverging. This may trigger a pullback to 23.6% (126.17), 38.20% (125.81), or 50% (125.51), the resistance being at the high of 126.75.