EUR/USD

The bears are not giving up. Yesterday, the low was updated again, but this attempt only ended with a long lower shadow, without fixing on the reached lines. Today, the levels of 1.1695 - 1.1684 (monthly Fibo Kijun + the first target of the daily target for the breakdown of the cloud) and 1.1602 - 1.1619 (minimum extremum of the past + 100% working out of the daily target) are still used as downward targets. The daily short-term trend (1.1818) remains the nearest significant resistance.

The main advantage in the smaller time frames remains on the bearish side, despite being in the correction zone for a long time. The downward targets to further decline are set at 1.1756 - 1.1733 - 1.1709 (classic pivot levels). Today's key levels 1.1780 (central pivot level) and 1.1802 (weekly long-term trend) can be combined with the daily short-term trend (1.1818).

It is worth noting that a breakdown and a reliable consolidation above will change the current balance of power not only on the hourly chart but also on the daily one. After that, the bulls can possibly restore their positions and consider new longer-term prospects.

GBP/USD

The daily target for breaking through the cloud has been passed. Yesterday, the bears managed to close the trading day below the level of 100% target completion. The target (1.3636-1.3698) and the daily short-term trend (1.3740) will be considered upward pivot points in case of a retest and an upward correction. The nearest reference point for the bears continues to be the support of the monthly short-term trend (1.3551).

The advantage currently belongs to the bearish traders, which are busy with the development of a downward trend. The intraday pivot points are seen at 1.3566 - 1.3510 - 1.3448 (classic pivot levels). To change the current balance of forces, it is necessary to originate and develop a full-fledged upward correction. The first important pivot point is now quite close to the level of 1.3628 (central pivot level). But for drastic changes to occur in the current situation, players will have to seriously try to rise, since the key levels that allow changing the current balance of power join their efforts in the area of 1.3752-1.3740 (weekly long-term trend + daily short-term trend) 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.