EUR/USD

Higher time frames

Over the past 24 hours, the situation has not changed drastically. The pair is still trading in the range-bound market between 1.0360-68-85 (daily short-term trend + fully tested target + monthly short-term trend) and 1.0285 -1.0309 (first daily target + final level of the death cross pattern). A breakout above this area will define the further trajectory of the pair.

H4 – H1

At the moment, bears are in a favorable position as they are trading below the key levels on lower time frames. The key levels today are found at 1.0348 (central pivot point of the day) and 1.0384 (weekly long-term trend). A strong hold above this range may support the bullish trend and help the bulls resume activity. Additional daily targets will be at the levels of 1.0422 – 1.0449 (resistance at standard pivot levels). If bears prevail today, the pair may decline further to test the standard pivot levels of 1.0301 – 1.0274 – 1.0227.

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GBP/USD

Higher time frames

Yesterday's rebound from 1.2099 did not get any traction. The pair stayed near the support level of the daily short-term trend. Therefore, the trading strategy hasn't changed. The main targets for the bulls today are found at 1.2099 – 1.2292 – 1.2302 (the first daily target for Ichimoku breakout + fully tested target + monthly medium-term trend). Meanwhile, bears will need to overcome the area formed by monthly and weekly levels (1.1895 – 1.1842 – 1.1744).

H4 – H1

At the moment, the pair is testing the central pivot level of 1.1985. Its next daily target is the weekly long-term trend located at 1.2045. Consolidation above this range will reinforce the bullish bias. Today's daily targets will be the levels of 1.2105 – 1.2145 (resistance at standard pivot levels). If the price exits the correction zone and continues to fall, the levels of 1.1905 – 1.1865 – 1.1785 (standard pivot levels) will provide support for the pair.

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Technical analysis is based on:

Higher time frames – Ichimoku Kinko Hyo (9.26.52) + Fibo Kijun levels

H1 – Pivot Points (standard) + 120-day Moving Average (weekly long-term trend)