EUR/USD

There has been no significant change in the situation on Monday. The pair continues to consolidate, using the strength and influence of the weekly and daily Fibo Kijun around the level of 1.1886 as a support. The next important upward target remains at 1.1972-76 (weekly cross + monthly short-term trend). A sharp consolidation above which can affect the current balance of power, which will require a new assessment of the situation and prospects.

In turn, a decline below the level of 1.1886 will bring back the relevance of the nearest support levels located at 1.1847 (daily Kijun) and 1.1821-13 (daily levels) today. Meanwhile, other levels such as 1.1762 and 1.1695 will also interest bearish traders in the bigger time frames.

There is a struggle in getting hold of the key levels 1.1990 (central pivot level) and 1.1885 (weekly long-term trend) in the smaller time frames. The breakdown of which and a reliable consolidation below will affect the distribution of forces and may support the bearish mood on the H1 chart. In this case, the support levels of 1.1851 and 1.1832 (S2 + S3) will act as downward pivot points. The formation of a rebound from the key levels (1.1990 - 1.1885) in the smaller time frames, which are strengthened from (1.1886) in the bigger ones, will help the bulls to restore their growth positions. The resistances of the classic pivot levels, which are so important in the development of the upward trend, are set at 1.1930 - 1.1949 - 1.1979.

GBP/USD

The support of the weekly Fibo Kijun (1.3710) continues to restrain the development of the bearish scenario, where the next important pivot point is considered at 1.3547 (weekly medium-term trend). With the continuation of the increase, the bulls are now facing a fairly wide resistance zone. The first stage of the resistance zone is the borders of the daily cross and the Ichimoku cloud – 1.3794-96 - 1.3837 - 1.3876.

An upward correction to key levels was implemented by the bulls in the smaller time frames. Now, there is a struggle to control the weekly long-term trend (1.3755). Consolidating above this level and updating the high of the correction (1.3776) can transfer all the advantages to the bulls. But together with the resistance levels of 1.3834 (R2) and 1.3892 (R3) in the smaller period, the resistances in the higher time frames (1.3837-1.3876) will come into operation during the rise.

If the bulls fail to implement a confident and reliable breakdown of the trend (1.3755), and the opponent returns to the central pivot level (1.3727), then we can expect a recovery of the downward trend on H1 and a continuation of the decline as soon as the weekly support of 1.3710 is broken and the low (1.3669) is updated. Today, the next bearish pivot points are set at 1.3620 (S2) and 1.3571 (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.