FXTM Online  Analytical Department.

Fibonacci Retracements Analysis 13.03.2015 (EUR/GBP)

EUR GBP, “Euro vs Great Britain Pound”

After rebounding from its target area, the pair has started a correction. Possibly, in the near term the price may continue falling towards deeper targets at 0.6900.

As we can see at the H1 chart, the current correction may yet continue towards retracement 61.8%. Possibly, later the price may resume moving downwards. The target area of the correction is confirmed by local retracement, which make this area even more important.