EUR/USD

Bearish traders managed to update the minimum extremes over the past day. A consolidation below and continued decline increases the relevance and prospects of testing the following targets in this direction, which are currently set at 1.1695 - 1.1619 (monthly Fibo Kijun + daily target for the breakdown of the cloud). If another upward correction develops, we can note the nearest significant resistance at the daily short-term trend (1.1833).

The favor in the smaller time frames currently belongs to the bears. On the H1 chart, the support of the classic pivot levels 1.1740 - 1.1704 - 1.1636 can be designated as downward pivot points. If the current deceleration during the last few hours manages to develop into an upward correction, then the key resistances that can change the current balance of power in the smaller periods will join their forces in the range of 1.1808-34 (central pivot level + weekly long-term trend).

In turn, the resistances of 1.1808-34 are strengthened by the daily short-term trend (1.1833), so a consolidation above will return the advantage to the bulls not only in the smaller time frames but also in the daily short-term support.

GBP/USD

The pair returned to test the supports of 1.3820 - 1.3793 (daily short-term trend + final border of the weekly golden cross) after it failed to break through the resistances of 1.3883 - 1.3906 (weekly medium-term trend + daily Fibo Kijun). If the bearish mood strengthens, the next downwards targets will be 1.3731 (minimum extreme) and 1.3636-98 (target for the breakdown of the daily cloud).

Yesterday's downward correction in the smaller TFs developed to key levels, which combine their efforts in the area of 1.3829-37 (central pivot level + weekly long-term trend). If the bears continue to decline, the intraday support, which will serve as their pivot points today, can be noted at 1.3771 - 1.3732 - 1.3666 (classic pivot levels).

On the contrary, if the bears manage to hold above the key levels (1.3829-37) and begin to restore their positions, their interests will be aimed at breaking through the resistances of the classic pivot levels, which is set at 1.3876 - 1.3942 - 1.3981.

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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.