EUR / USD
The bearish traders managed to confirm the rebound formed earlier from the resistance of 1.2170 and realize the decline, overcoming the accumulation of supports. Now the accumulation of supports has passed into the category of resistances with the boundaries of 1.2099 - 1.2043 (daily Ichimoku cross + weekly Fibo Kijun). This zone will now help the bears to defend their downside interests. Fixing higher will return bullish plans associated with overcoming 1.2170-50. The area of 1.1975 (weekly medium-term trend + lower limit of the daily cloud) - 1.1952 (the minimum extreme) serves as a downward reference for the continuation of the decline
In the lower timeframes, the advantage belongs to the bears. The bearish benchmarks inside the day are the support of the classic Pivot levels 1.2006 - 1.1971 - 1.1920. Despite the preponderance of forces, it should be noted that the pair has recently been in the upward correction zone for quite a long time. The nearest significant resistance on H1 today is located at 1.2057 (the central Pivot level). Further, the key value will be the weekly long-term trend of 1.2108. The intermediate resistance in this range is at 1.2092 (R1).
GBP / USD
The pause under the resistance of the first weekly target for the breakout of the Ichimoku cloud (1.3904) was prolonged. The result of the interaction will determine the prospects. The nearest support is the daily short-term trend located at 1.3815.
There is a struggle for the possession of the weekly long-term trend on the lower timeframes. In the current situation, the key levels in the H1 timeframe have joined forces at 1.3865-67 (central Pivot level + weekly long-term trend). Securing and working above levels give an advantage to the bulls - with reference points at 1.3900 - 1.3941 - 1.3976 (resistances of the classic Pivot levels). A decline below the levels (1.3865-67) and a reversal of movements will contribute to a change in the current balance of power in favor of the bears. In this case, 1.3824 (S1) - 1.3789 (S2) - 1.3748 (S3) will act as downward targets within the day.
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The technical analysis of the situation uses:
higher timeframes - Ichimoku Kinko Hyo (9.26.52) + Fibo Kijun levels
H1 - Pivot Points (classic) + Moving Average 120 (weekly long-term trend)
