EUR/USD

Last week's uncertainty continues. The bulls, as well as, yesterday's opponent, failed. In this case, the movement still remains within the border of the resistance levels of 1.1975-91 (weekly Kijun + daily Fibo Kijun) and support levels of 1.1886-1.1913 (weekly Fibo Kijun + daily Tenkan). The current consolidation and uncertainty dominating in the market prevents the situation from developing. Nevertheless, we still note the bulls' next pivot points, which are the daily and weekly cross levels (1.2039-64). As for the bears, we have the levels of 1.1821 - 1.1762 (daily target for the breakout of the cloud + monthly short-term trend).

The uncertainty in the bigger time frames, limited by the support and resistance levels, formed in a sideways movement due to insufficient results in the smaller time frames. The main levels in the H1 chart alternately move to bulls and bears, but this does not lead to further activity and massive strengthening of sentiment. Currently, it can be said that the key levels in the lower time frames are forming the center of gravity within the range of the higher time frames.

Today, the key H1 levels are set in the area of 1.1936-29 (central pivot level of the day + weekly long-term trend). A consolidation below this area will allow us to test the support levels of 1.1886 - 1.1913, whose breakdown will strengthen the bearish mood. In this case, the following intraday pivots can be noted at 1.1853 (S2) and 1.1800 (S3). In turn, a consolidation above the key H1 levels will allow us to retest the resistance levels of 1.1975-91. If these levels are broken, it will open the path towards the next resistances of 1.2019 (R2) and 1.2049 (R3).

GBP/USD

The movement is not progressing. The pound continues to test the resistance of the daily Ichimoku cross (1.3953-1.4007-1.4062), but at the same time, stays in the attraction and influence zone of several daily and weekly Ichimoku levels, which combined their efforts in the area of 1.3904-1.3880. Therefore, the possible scenarios for the development of events remain unchanged. For bulls, it is important for them to break through the Ichimoku daily dead cross. If so, we can expect it to reach the level of 1.4118 (upper limit of the monthly cloud), 1.4181 (100% weekly target level), and 1.4240 (high extreme). As for bears, they have to leave the area of 1.3904 - 1.3880 and sharply consolidate below the low (1.3777).

Today, the bulls are still trying to settle above the key levels in the smaller time frames, which are set at 1.3910-1.3941 (central pivot level + weekly long-term trend). A consolidation above these levels will favor the bullish scenario. Here, the intraday upward targets are at 1.3985-1.4046-1.4090 (classic pivot levels). On the contrary, a consolidation below 1.3910-41, and a breakout of 1.3901-1.3880 (supports in the higher time frames) will help the bears to strengthen. In this case, we can note the next intraday downward targets set at 1.3836 (S2) - 1.3775 (S3).

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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.