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Fibonacci Retracements Analysis 15.09.2021 (GBPUSD, EURJPY)
As we can see in the H4 chart, after rebounding from 50.0% fibo, GBPUSD is expected to form a short-term pullback to the downside, which may later be followed by a further mid-term correctional uptrend to break 61.8% fibo at 1.3991 and then reach 76.0% fibo at 1.4087. The support is the low at 1.3572. The H1 chart shows a more detailed structure of the descending correction after local divergence on MACD, which has already reached 38.2% fibo. The next downside targets may be 50.0% and 61.8% fibo at 1.3757 and 1.3721 respectively. The resistance is the local high at 1.3913. In the H4 chart, convergence on MACD made ... (full story)