EUR/USD
Bulls tried to push the pair further up and establish control over the market yesterday. They need to keep up. Otherwise, their attempts may go in vain. The closest target levels stand at 1.1069 (daily Fibo Kijun) and 1.1151-69 (weekly levels + daily medium-term trend). Support is still seen at the levels of the daily short-term trend (1.0964) and the first weekly target on a breakout of the Ichimoku cloud (1.0960).
In lower time frames, the key level (weekly long-term trend, 1.0980) remains horizontal, while the central daily Pivot point (1.1009) has changed its position today. It is now in a bullish zone relative to the trend. This way, bulls have additional important support. It remains to be seen whether they can maintain what they have already achieved. Targets are now standing at classic Pivot resistance levels (1.1070 - 1.1107 - 1.1168).
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GBP/USD
Yesterday, the price retraced up to the daily short-term trend and the previously passed reference points of 1.3159 - 1.3218 (daily target on a breakout of the Ichimoku cloud + monthly Fibo Kijun). A breakout and consolidation above the range will allow the quote to go to nearest resistance at 1.3324-50 (weekly levels). The upward correction may end if the price retests the range. If so, the downtrend could resume (1.3000), and the quote could decline to the lower limit of the monthly cloud (1.2952).
Yesterday, bulls were able to break through the key levels. They are now pushing the price to first resistance (1.3187), in line with classic Pivot levels. Further targets stand at R2 (1.3232) and R3 (1.3309). The key levels of 1.3110 (central Pivot level) and 1.3072 (weekly long-term trend) serve as support.
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Iechnical analysis iIndicators used:
Higher time frames – Ichimoku Kinko Hyo (9.26.52) + Fibo Kijun
H1 – Pivot Points (classic) + Moving Average 120 (weekly long-term trend)
