EUR/USD
The bears showed their intention last week by executing a very effective decline. As a result, the pair broke through many support levels and entered the bearish zone relative to the daily Ichimoku cloud, marking a new downward target. At present, the nearest support (upper border of the weekly cloud) is seen at 1.1833. We can note the other important pivot points at 1.1695 - 1.1684 - 1.1619 (monthly Fibo Kijun + daily target for the breakdown of the cloud). The previous broken levels form a fairly wide resistance zone, starting at 1.1950 (lower border of the daily cloud + weekly Fibo Kijun) and 1.1975 (monthly short-term trend).
A corrective deceleration is formed in the smaller time frames, which can develop after consolidating above the central pivot level (1.1879). The next important upward pivot point for the upward correction is the weekly long-term trend (1.2018). The nearest intraday resistances are set at 1.1910 - 1.1958 - 1.1989 (classic pivot levels). Once the correction is done and the downward trend is restored, the supports of the classic pivot levels (1.1831 - 1.1800 - 1.1752) will become relevant again.
GBP/USD
Bearish traders leveled almost all the gains of the opponent last month, updating the low in May. At the moment, the pair is working in a bearish zone relative to the daily cloud, while testing the final borders of the weekly golden cross (1.3837 - 1.3743). The breakdown of these supports will eliminate the weekly strengthening and allow the bears to consider executing the daily target for the breakdown of the cloud (1.3653 - 1.3587). The nearest accumulation zone of resistances, formed by the levels of different time frames, is the area 1.3920-35-60 (daily cloud + Weekly Fibo Kijun + Monthly Senkou Span B).
The upward correction in the smaller intervals led to the testing of the central pivot level (1.3845). A consolidation above it will open the way to the next important resistance level, namely the weekly long-term trend (1.3995). In this case, the closest resistance can be noted at 1.3900 (R1). If the mood changes, we can consider the intraday downward pivot points: the support of the classic pivot levels seen at 1.3745 - 1.3690 - 1.3590.
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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.
