Technical analysis recommendations for EUR/USD and GBP/USD on June 26
EUR / USD
Another week is coming to an end. At the beginning of the week, when analyzing the latest report of COT (Commitments of Traders), it was noted that the time had come to revise the current trend. The day cross has now taken a horizontal position, a stop in the directional movement is affecting. The players to decline seek to strengthen their positions and continue downward correction. But the implementation of these plans is hindered by a wide and significant support zone, the location of which has still not changed anything - 1.1225 (weekly Senkou Span B) - 1.1190 (monthly Fibo Kijun) - 1.1167 (weekly Fibo Kijun) - 1.1147 (daily Kijun) - 1.1108 (weekly Senkou Span A) - 1.1065 (weekly cross + monthly Tenkan + daily cloud).
Yesterday, the players to decline managed to consolidate under the weekly long-term trend, therefore, at lower time intervals, they currently retain an advantage. Nevertheless, the pair is in a long-term correction again and at the same time, remains in the zone of influence and attraction of key levels, which combine their efforts today within 1.1223-49 (central Pivot level weekly long-term trend). Exiting the correction zone will return relevance to the support of the classic Pivot levels 1.1185 - 1.1154 - 1.1116. A price consolidation above 1.1223-49 will change the balance of power of the lower halves. The upsides within the day will be the resistance 1.1292 (R2) - 1.1323 (R3).
GBP / USD
The past twenty-four hours had passed in thought. None of the market participants was able to achieve results, so the previously announced prospects remain. It is important for players to decline to break through the support zone located now in the region of 1.2349 - 1.2317 (weekly Kijun + monthly Fibo Kijun). This will allow you to consider the possibility of eliminating the golden crosses of Ichimoku the other day or week. It is advisable for players to increase their current support for gold crosses (1.2410 day Fibo Kijun + 1.2349 week Kijun) and relying on them to try to restore their positions to such a state when there is a chance to leave the zone of the current correction. The main guidelines on this path in this situation are located at 1.2440 - 1.2510 (weekly Tenkan + monthly Tenkan + daily cross) - 1.2569-95 (weekly Fibo Kijun + monthly Kijun) - 1.2735-1.2812 (the lower limit of the weekly cloud + the maximum extreme).
At lower time intervals, the players to decline consolidated and hold positions under key levels. They can be noted today at 1.2422-39 (weekly long-term trend + central Pivot level), but it is not yet possible to go beyond the zone of attraction of these levels. Updating yesterday's low (1.2388) will continue the downward trend. The support for classic Pivot levels are now located at 1.2381 - 1.2346 - 1.2305. A price consolidation above 1.2422-39 can affect the current balance of forces on H1, while further strengthening of the bullish mood can be expected only after a reliable overcoming of the maximum extremes, the closest of them are located at 1.2464 and 1.2542.
Ichimoku Kinko Hyo (9.26.52), Pivot Points (classic), Moving Average (120)
