EUR/USD

The bears managed to maintain their potential at the previous week's close despite the lack of productive decline. Due to this, they are already testing the next support (1.1787 weekly short-term trend). The immediate important tasks of the bears here are to break through the level (1.1787) and eliminate the daily golden cross (1.1758). Further, bearish interests will be directed to breaking through the monthly level (1.1695) and updating the low (1.1664). If another deceleration or formation of a rebound from the encountered weekly support (1.1787) occurs, the pair may return to the accumulation zone of daily levels (1.1815 - 1.1831 - 1.1842), where consolidation began at the end of last week.

The advantage in the smaller time frames is currently on the bearish side. They are testing the support level of 1.1781 (S2) from the classic pivot levels during the day and the next pivot point may be the level of 1.1754 (S3). The key levels in the same timeframe are resistances, which are joining forces around 1.1823-36 (central pivot level + weekly long-term trend). These levels are responsible for the possibility of an upward correction, and their breakdown can change the balance of forces acting on the hourly chart.

GBP/USD

Last week did not bring much clarity to the definition of near-term prospects. The pair remained in the attraction zone of important levels 1.3830 (weekly Fibo Kijun) - 1.3848 (monthly Tenkan). In addition to these levels, there are also significant levels from the daily time frame. A reliable departure from the influence zone of the levels (1.3830-48) will allow the bulls to consider the possibility of testing the following resistance levels of 1.3910 (upper border of the daily cloud + weekly medium-term trend) - 1.3958 (upper border of the monthly cloud) - 1.3989 (final the line of the weekly dead cross of Ichimoku).

In turn, the bears, upon gaining advantages, will go back to fulfill their task to break through the support of the weekly short-term trend (1.3777) and eliminate the daily gold cross (1.3748-13).

At the moment, there is a struggle in the smaller time frames for the weekly long-term trend (1.3814). The breakdown and reversal of the moving average will contribute to the strengthening of bearish mood. The next intraday downward targets can be noted at 1.3781 and 1.3739 (classic pivot levels). In the event of a rebound from the weekly long-term trend (1.3814), the question will arise about returning to the bullish side of the central pivot level (1.3846), and then about updating the maximum extreme (1.3888).

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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.