EUR/USD
The bulls tend to leave the consolidation zone as winners. Now, it is important for them to get rid of the attraction of various levels that have accumulated around 1.1290 (monthly Fibo Kijun + daily cross) and go beyond the consolidation peaks (1.1383 - 1.1360). The next pivot point here will be the unification of resistance levels of different timeframes within the range of 1.1439-92. Another failure to change the situation and the continuation of trading in the consolidation zone may contribute to the preservation of uncertainty at the close of this week tomorrow.
The euro is now above the key levels in the smaller timeframes, so the main advantage belongs to the bulls. However, a decline is observed and the pair is testing the support of the central pivot level (1.1310). The key support level is located slightly below it, particularly at the weekly long-term trend (1.1296). A consolidation below this level can change the balance of power in the smaller TFs again. In this case, 1.1279 - 1.1232 - 1.1201 (support for the classic pivot levels) will become the intraday downward targets.
But if the bulls stop the decline in the near future and manage to restore their positions by updating the high (1.1342), then the upward movement will resume. In this case, the pivot points will be added to the ones in the higher timeframes, which are currently set at 1.1357 - 1.1388 - 1.1435.
GBP/USD
The bulls currently continue to strengthen their positions. Their key task is to break the daily dead cross (1.3337 - 1.3378). A consolidation above it will allow us to consider new upward pivot points. The levels of the weekly Ichimoku cross (1.3475 - 1.3496) and the daily cloud are the next nearest resistance levels.
Yesterday, the bulls were able to maintain support for key levels in the smaller timeframes, which resulted in further growth. They will now test the first resistance of the classic pivot levels (1.3393), followed by R2 (1.3439) and R3 (1.3516). If necessary, today's key levels will protect the bullish interests at 1.3316 (central pivot level) and 1.3276 (weekly long-term trend).
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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.
