EUR/USD
The euro updated its lows and retested the trend line yesterday, but it failed again to close the day below these borders. The downward pivot points retain their position. If the bears gather their strength and become active, they will be supported by the following levels 1.1695 - 1.1684 (monthly Fibo Kijun + the first target of the daily target for the breakdown of the cloud) and 1.1602 - 1.1619 (minimum extremum the past + 100% working off the daily goal).
In turn, it is still important for the bulls to break through the daily short-term trend (1.1822). After that, the next pivot point for the upward correction will be in the area of 1.1920 (daily Fibo Kijun + weekly Fibo Kijun).
The bears continue to have the advantage in the smaller time frames. Here, it is possible to add support levels to the downward pivot points, which are currently located at 1.1766 - 1.1735 - 1.1705. To change the current balance of power on the H1 chart, the bulls need to break through the key resistance levels, which are combining their efforts in the area of 1.1795 (central pivot level) - 1.1808 (weekly long-term trend). A reliable consolidation above will allow them to make new plans to further recover positions. If this is implemented, the levels of 1.1827 - 1.1857 - 1.1888 (resistances of the classic pivot levels) will act as intraday upward targets.
GBP/USD
The downward movement continued. To date, the pound has completed 100% of the target for the breakdown of the daily cloud (1.3636). In this case, a slowdown is possible. The breakdown of the encountered support will open the way to the monthly short-term trend (1.3551), while the formation of a rebound can allow the pair to retest the levels passed the day before. The nearest levels are seen at 1.3698 - 1.3731 - 1.3767 - 1.3824.
The advantage in the smaller time frames belongs to the bearish traders, who are currently testing the support of the classic pivot level (1.3626). Other support levels can be noted at 1.3581 (S2) and 1.3507 (S3). If an upward correction develops at the smaller periods, its main borders will be the central pivot level (1.3700) and the weekly long-term trend (1.3791). The nearest resistance level is located at 1.3745 (R1).
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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.
