EUR/USD
The downward movement continues and the support for the monthly Fibo Kijun (1.1695) is getting near. The attraction and influence of the monthly level may now have an impact. The breakdown of the level will open the way to the next support, which can be noted in the area of 1.1602 (minimum extremum of the past). The formation of the rebound will return the relevance of the resistance levels, which are seen around 1.1784 - 1.1808 - 1.1833 (Ichimoku daily cross).
The bears currently have the advantage in the smaller time frames. They develop a downward trend, reaching new lows. At the moment, the first support for the classic pivot levels S1 (1.1705) is being tested, followed by S2 (1.1691) and S3 (1.1672).
With the development of the upward correction, the nearest resistance is set at 1.1724 (central pivot level), but the next important level that determines the balance of power is now at 1.1781 (weekly long-term trend). Such a significant distance provides opportunities for opposing and preserving the existing bearish advantages. Today, the intraday nearest resistances can be noted at 1.1738 - 1.1757 - 1.1771 (classic pivot levels).
GBP/USD
Yesterday, bearish traders did not manage to break through the attraction and strength of the support zone encountered at 1.3851 - 1.3830-25 (weekly Tenkan + Fibo Kijun + daily Fibo Kijun). Today, they are trying again. The next support is currently located at 1.3777 (daily mid-term trend) - 1.3728 (the final line of the daily gold cross) - 1.3690 (monthly short-term trend).
The development of the downward trend continues. The first support for the classic pivot levels (1.3817) has been overcome. Further, the bearish interest will be directed to breaking through the support levels S2 (1.3800) and S3 (1.3772). The key levels in the smaller time frames, which act as resistances, are now at 1.3845 (central pivot level) and 1.3878 (weekly long-term trend). A consolidation above which can change the current balance of power, which will lead to the reassessment of the situation.
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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.
