EUR/USD
The bulls sought to develop an upward correction yesterday. The nearest pivot point for them is the area of 1.1657-64 (daily short-term trend + historical level). If the bullish mood strengthens, we can consider the levels of 1.1695 (monthly Fibo Kijun + daily Fibo Kijun) and 1.1736 (weekly Tenkan + daily Kijun). The historical level of 1.1602 is now showing attraction. It should be noted that the end of the upward correction and the restoration of the downward trend (1.1563) will focus the interests of the bears in the broad support zone 1.1538 - 1.1516 - 1.1494, combining the lower border of the weekly cloud, the upper border of the monthly cloud, and the monthly medium-term trend.
The bulls failed to break through the key levels of the smaller timeframes during the corrective rally. As a result, the main advantage remains on the opponent's side for now, and the forces of the key levels are acting together today in the area of 1.1618 (central pivot level + weekly long-term trend). A consolidation above and the reversal of the moving will affect the distribution of the balance of forces. In this case, the resistance of the classic pivot levels (1.1644 - 1.1668 - 1.1696) will become the upward pivot points.
On the contrary, the absence of bullish activity will contribute to the preservation and strengthening of bearish sentiment. The bears are currently testing the first support of 1.1592 (S1) of the classic pivot levels. The next downward pivot points can be noted at 1.1563 (minimum extreme + S2) and 1.1540 (S3).
GBP/USD
The bulls continue to strengthen their positions. They closed the previous day above the accumulation zone of the levels 1.3601 - 1.3571 (historical and daily levels). If the bulls get rid of the attraction of these levels today and further rise, then we can expect an interaction with the resistance level of 1.3661 (daily medium-term trend + weekly short-term trend). Here, the next upward pivot points will be the borders of 1.3721-31-52 (daily and weekly levels).
The advantage in the smaller timeframe was taken by the bulls. Today, their intraday prospects are at 1.3653 - 1.3700 - 1.3761 (resistances of the classic pivot levels). The key support levels are now set at 1.3592 (central pivot level) and 1.3521 (weekly long-term trend). But if a consolidation below occurs, this will change the current balance of power in favor of the bears. The levels of 1.3484 (S2) and 1.3437 (S3) will act as the next support levels on the hourly chart.
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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.
