Mar 16, 2015

Fibonacci Retracements Analysis 16.03.2015 (EUR/GBP)

FXTM Online Analysis Department.


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 has reached retracement 50%. 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.

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