EUR/USD

An important resistance level was reached, which combined the levels of the weekly cross (1.1974 - 1.1976) and the monthly short-term trend (1.1976). The result of interaction will determine further opportunities and options for the development of the situation. If the upward movement continues, the daily cloud (1.2007 - 1.2092), strengthened by the weekly level (1.2064), will counteract the strengthening of bullish mood. Today, the support zone from the previous broken levels was taken out from the chart by a considerable distance, but its upper border continues to stay at 1.1886 mark.

Bullish traders still have the main advantage in the smaller time frames. They are currently using the support of the central pivot level (1.1971). Thus, we can note the next intraday upward targets, which are the resistances of the classic pivot levels (1.1995 - 1.2011 - 1.2035). In turn, the breakdown of the support level of 1.1971 will lead to the development of a downward correction. The most important benchmark for the bearish traders will be the weekly long-term trend (1.1921). On this way, the nearest support levels are set at 1.1955 (S1) and 1.1931 (S2).

GBP/USD

The daily upward correction is fighting for the daily short-term advantage (1.3794). The next important pivot point is 1.3837 (daily mid-term trend + lower border of the daily Ichimoku cloud). Currently, the most significant boundary separating the pair from bearish sentiment is still located at 1.3710-1.3669 (weekly Fibo Kijun + minimum extreme).

Although the bulls in the smaller time frames remained in the correction zone for a long time, they maintained the advantage and support of almost all analyzed technical instruments. The pivot point for the upward movement are the resistances of the classic pivot levels (1.3806 - 1.3838 - 1.3869). Today, the key H1 levels serve as support levels seen at 1.3775 (central pivot level) and 1.3743 (weekly long-term trend). A reliable consolidation below and a reversal of moving averages will change the current balance of forces on the H1 chart. If this scenario is implemented, the main task will be to break through the weekly support (1.3710) and restore the downward trend (1.3669).

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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.