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Fibonacci Retracements Analysis 01.09.2021 GBPUSD, EURJPY

GBPUSD, Great Britain Pound vs US DollarAs we can see in the H4 chart, the current growth is slowing down. This technical picture implies that the asset may start a new descending wave. The first downside target will be the low at 1.3572, a breakout of which may lead to a further downtrend towards the midterm 38.2 fibo at 1.3419. On the other hand, the price may rebound from the low and resume trading upwards to reach 61.8 and 76.0 fibo at 1.3991 and 1.4087 respectively.The H1 chart shows that after correcting upwards by 50.0, the asset may continue growing to reach 61.8 fibo at 1.3838. At the same time, there is divergence on MACD may indicate a new shortterm decline soon towards the local support at 1.3602.EURJPY, Euro vs. Japanese YenIn the H4 chart, the asset is correcting upwards after a test of 50.0 fibo at 127.87 and convergence on MACD. After the pullback is over, the pair may resume falling towards the midterm 61.8 fibo at 126.40. The resistance is the high at 134.12.As we can see in the H1 chart, convergence on MACD made the asset start a new correctional uptrend towards 38.2 fibo at 130.29. The next upside target may be 50.0 fibo at 131.02. On the other hand, a breakout of the local low at 127.93 will lead to a further downtrend. Also, there might be divergence on MACD to indicate a new decline soon.

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