EUR/USD
The bears continued to decline and managed to close June with a strong bearish mood. A consolidation below the current support levels of 1.1866-47 (weekly cloud border + minimum extremum) will allow us to consider new prospects and pivot points to further develop the downward movement. Under the current conditions, we can note the level of 1.1704 - 1.1695 (last minimum extremum + monthly Fibo Kijun), and a target for the breakdown of the daily cloud (1.1619 - 1.1684). In turn, today's nearest resistance level is set at 1.1907 (daily short-term trend).
The favor in the smaller time frames is on the side of bearish traders. A downward trend indicates new minimum extremes. The supports of the classic pivot levels are seen at 1.1831 - 1.1806 - 1.1767 today. The key levels form pivot points in the event of an upward correction and are now at 1.1870 (central pivot level) and 1.1912 (weekly long-term trend). Currently, the closest resistance can be noted at 1.1895 (R1).
GBP/USD
All the bulls' achievements in May were blocked by the bears' activity in June. As a result, the breakdown of the current support levels of 1.3786 (May's low) and 1.3754 (the final line of the weekly golden cross) will allow us to depend on the development of the downward monthly correction. The main nearest pivot point is the monthly short-term trend, which is at 1.3551. On the way to the monthly Tenkan, the fulfillment of the target for the breakdown of the daily Ichimoku cloud (1.3636 - 1.3698) can provide support and value.
The bears have the main advantage in the smaller time frames, but the pair is currently in the upward correction zone and is testing the resistance of the central pivot level (1.3833). A consolidation above will provoke the development of the upward correction, whose main reference point will be the resistance of the weekly long-term trend located at 1.3875. Once the correction is done and the low is already updated, the downward trend will be restored. The supports of the classic pivot levels are at 1.3794 - 1.3759 - 1.3720 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.
