EUR/USD

Bears successfully broke through the support level of 1.1886 (weekly Kijun) yesterday, turning it and the daily short-term trend (1.1913) into resistances, which are now the first to protect bearish interests. The target for the breakout of the daily cloud (1.1821-1.1762) and the monthly levels of 1.1766 (Tenkan) - 1.1695 (Fibo Kijun) are the benchmarks for continuing the decline.

On the hourly chart, bearish traders have the advantage, acquiring the support of all analyzed technical instruments. Today's intraday pivot for the downward trend is the support of the classic pivot levels set at 1.1813 - 1.1778 - 1.1714. Meanwhile, the key levels in the smaller time frames are currently forming resistances at 1.1877 (central pivot level) and 1.1911 (weekly long-term trend). It is fair to note that they joined their efforts with the resistance levels (1.1886 - 1.1913) in the upper time frames, so the breakdown of which and a consolidation above will not only change the balance of strength in the smaller intervals.

GBP/USD

Bearish traders maintained their positions indicated by the previous week's close below support levels and a downward gap at the opening of this week. Due to this, they continued to move downwards. Currently, the upper border of the daily cloud (1.3743) is being tested, while the weekly Fibo Kijun (1.3672) is gaining attention. The breakdown of these support levels will make the lower border of the daily cloud and the weekly medium-term trend as pivot points. Meanwhile, the daily cross and weekly levels located around 1.3904 are now forming resistance levels.

It is clear that the bears are in favor at the moment. A new low, as well as the testing of the first support for the classic pivot levels (1.3704) are observed. The next support levels can be seen at 1.3660 (S2) and 1.3581 (S3). If a rebound occurs from the reached support and the correction develops, the pair can return to the key resistance levels, which is currently in the area of 1.3783 (central pivot level) and 1.3866 (weekly long-term trend). We can note the nearest resistance at 1.3827 (R1). The zone of resistance is very broad, so it is unlikely to be in demand today.

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Ichimoku Kinko Hyo (9.26.52) and Kijun-sen levels in the higher time frames, as well as classic Pivot Points and Moving Average (120) on the H1 chart are used in the technical analysis of the trading instruments.