EUR/USD
Bearish traders took a break after the target for the breakdown of the daily cloud (1.1762) was fully completed. The support of the monthly short-term trend (1.1766) strengthened the target, so there will be a prolonged decline for quite some time, which might even develop into an upward correctional movement. In case of growth, we can note the closest target set at 1.1821 (first target of the daily target for the breakdown of the cloud) and 1.1875-86 (daily Tenkan + weekly Fibo Kijun). If the price breaks through the daily target and consolides below it, we will consider the downward prospects such as 1.1695 (monthly Fibo Kijun) and 1.1611-1.1591 (upper limits of the monthly and weekly clouds).
Approaching the support in the higher time frames led to a long correction in the smaller periods. Currently, the central pivot level (1.1789) is providing attraction. The primary pivot point to develop the upward trend is the weekly long-term trend (1.1835). If the decline continues, the classic pivot levels (1.1751 and 1.1734) will act as intraday supports. After that, the interests of bears will be directed to testing the support levels (1.1695 and 1.1611-1.1591) in the upper halves.
GBP/USD
The pound sterling is in an upward correction after testing the support level of 1.3672 (weekly Fibo Kijun). The main resistance zone is now formed by Ichimoku daily dead cross (1.3835 - 1.3887 - 1.3954 - 1.4022), which is strengthened by weekly levels in the area of 1.3904. After breaking through these resistance levels, it will allow us to consider new bullish prospects.
The bulls continue to have the advantage and support of all analyzed technical instruments during the current growth. At the moment, the pair is moving based on the key levels 1.3776-63 (central pivot level + weekly long-term trend) on the H1 chart, while the classic pivot levels of 1.3822 - 1.3857 - 1.3903 serve as intraday upward targets. In case that the bears managed to return and consolidate below the key levels (1.3776-63), the balance of power in the smaller time frame will change, making the support levels of 1.3741 - 1.3695 - 1.3660 relevant again.
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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.
