EUR/USD

The bulls failed to further rise yesterday, while the opponent also failed to achieve a result, slowing down at the support of the daily short-term trend (1.1838). As a result, all the conclusions, expectations, and the location of the main pivot points remain unchanged. With the development of their interests, bullish traders will try to break through the following resistance levels – 1.1920 (weekly Fibo Kijun) - 1.1948-76-99 - 1.2051 (monthly Tenkan + weekly and daily levels).

As for the bears, their prospects when updating the lows (1.1781 - 1.1806) and restoring the daily downward trend are 1.1704 - 1.1695 - 1.1684 - 1.1619 (minimum extremum + monthly Fibo Kijun + target for the breakdown of the daily clouds).

The bulls currently maintain their main advantage in the smaller time frames, relying on the key support levels in the area of 1.1858-40 (central pivot level + weekly long-term trend). If growth continues, the intraday upward pivot points can be noted at 1.1881 - 1.1902 - 1.1925 (classic pivot levels). However, a breakdown and consolidation below the key levels (1.1858-40) will affect the priorities. In this case, the supports of 1.1814 (S2) - 1.1793 (S3) and the minimum extremum (1.1781) will be considered as pivot points.

GBP/USD

The encountered resistance levels of 1.3883 - 1.3906 (weekly medium-term trend + daily Fibo Kijun) contributed to the slowdown. As noted earlier, the resumption of growth will lead the pair to an accumulation of resistances in the 1.3958 - 1.3990 area (weekly and daily levels + monthly Senkou Span B). Today's nearest supports are still 1.3820 (daily short-term trend) and 1.3793 (final line of the weekly golden cross).

The pair has been in the downward correction zone for a long time, and even the technical indicators managed to tune in to support the bears. Nevertheless, the pound is still above the key levels on the H1 chart, which are located at 1.3876 (central pivot level) and 1.3825 (weekly long-term trend) today. This means that the current main advantage remains on the bullish side. If the upward trend continues, the classic pivot levels 1.3913 - 1.3947 - 1.3984 will be the intraday resistances.

On the contrary, a consolidation below the weekly long-term trend (1.3825) and a reversal of the moving average may change the current balance of forces. If so, updating the lows (1.3741 - 1.3731) and resuming the decline will be mainly important.

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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.