EUR / USD
There was a decline in the influence area of the previous extremum (1.1612) yesterday. If an upward correction develops, the nearest significant resistances will be noted at 1.1688 (lower limit of the monthly cloud) and 1.1694 (lower limit of the daily cloud). Now, a reliable consolidation in the Ichimoku's double clouds will further strengthen the bullish mood.
On the other hand, the main attention will be focused on passing the resistance of the daily cross, cloud and weekly Tenkan (1.1744 - 1.1765 - 1.1777). If we leave the zone of the current daily correction and break through the level of 1.1612, the relevance of the decline will return to the support of the Fibo Kijun (weekly 1.1539 + monthly 1.1486).
After strengthening from the upper time frames, the support (S1) of the classic pivot levels could serve as a basis for the beginning of an upward correction. At the moment, the central pivot level (1.1639) was already overcome, while R1 (1.1657) is being tested. Moreover, we can also note other resistances such as 1.1673 (R2) and 1.1691 (R3), but the main value in this direction will have 1.1708 (weekly long term trend). In case of exiting the correction zone, it will open the way to 1.1605 (S2) - 1.1589 (S3).
GBP / USD
The bears did not manage to reach more. So after 100% working out the goal for breaking the four-hour cloud (1.2861), they returned to the resistance of weekly levels (1.2943-76). The downside pivot points retain their value and location of 1.2777 (weekly Kijun) - 1.2711 (monthly Fibo Kijun) - 1.2674 (minimum extreme). It is possible for the situation to change in favor of bulls and further growth prospects to appear, if the current resistances (1.2943-76) are overcome and consolidate in the bullish zone relative to the daily cloud – 1.3077 (area of Senkou span B).
The bulls, in turn, continue the upward correction. The current target is the resistance of the weekly long-term trend (1.2963). A consolidation above which and reversal of moving averages will change the current balance of power on the hourly TF in favor of the bulls. Here, the intraday targets will be the resistance levels of 1.2992 (R2) and 1.3041 (R3). Meanwhile, support levels at 1.2903 (central pivot level) - 1.2863 (S1) - 1.2814 (S2) - 1.2774 (S3) can also be noted today.
Ichimoku Kinko Hyo (9.26.52), Pivot Points (classical), Moving Average (120)
