EUR/USD
There is a continuing slowdown and development in the attraction and influence zone of the historical level of 1.2150. The nearest support levels are still 1.2105 (weekly Fibo Kijun) and 1.2082 (daily short-term trend). A consolidation below which can provoke an extended and more effective downward correction. The next maximum extreme of 1.2243 remains the upward pivot point in the current situation.
Currently, the pair in the smaller time frames is trading in the correction zone again. The technical indicators managed to adjust to the strengthening of bearish mood, while the euro left the support of the central pivot level (1.2151) in the past and is now testing the level of 1.2119 (S1). The weekly long-term trend (1.2099) is the most important level for the bears. This support is strengthened by the daily short-term trend (1.2082), so a consolidation below which will significantly affect the current balance of power not only on the hourly TF, but also on the daily one.
In turn, the recovery of positions and the upward trend (yesterday's high of 1.2182) will return the relevance to the upward pivot points. Today, they are located at 1.2210 and 1.2237 (classic pivot levels).
GBP/USD
Bullish traders continue to maintain their growth. If they successfully consolidate above the daily target on the breakdown of the cloud (1.4137), they will gain the opportunity to continue rising towards the next pivot point, namely the maximum extremum of 1.4240. But if a decline occurs below the daily target (1.4137 - 1.4090), the downward correction will be implemented further. Here, the nearest supports are still located not so far away from the price chart – 1.4008 (historical level) and 1.3978 (daily short-term trend).
The pair is currently in the correction zone of the smaller time frames. The central pivot level of 1.4136 provided the attraction, while all other pivot levels are forming quite near upward (1.4169 - 1.4199 - 1.4232) and downward (1.4106 - 1.4073 - 1.4043) points. The key level of 1.4011 (weekly long-term trend), which can affect the balance and distribution of forces, is far from the current positions and so, it is unlikely to be used today.
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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.
