EUR/USD
Higher timeframes
The situation has not changed over the past day. The pair remains in the consolidation zone, which has been forming in the zone of attraction and influence of the monthly support (1.0539) for the last few days. The downward target is still located at 1.0339 (minimum extremum). The upside target is currently represented by the union of the levels of the daily cross (1.0661 Tenkan + 1.0744 Fibo Kijun) and monthly resistance (1.0721).
H4 - H1
On the lower timeframes, the correction continues and the struggle for possession of the weekly long-term trend. The weekly long-term trend is converging with the central pivot point of the day (1.0530) and is located at 1.0531. In order to change the current balance of power, bulls now need to gain a foothold higher and deploy the moving average. Upward references within the day are the resistance of the classic pivot points at 1.0567 – 1.0616 – 1.0653. Downward references in the current conditions can be noted at 1.0481 – 1.0444 – 1.0395.
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GBP/USD
Higher timeframes
Consolidation, in the area of the historical location of the monthly level of 1.2495, is preserved. The pound has not yet decided on further plans and remains in thought. The tasks of the bears are to update the low (1.2410), restore the trend, and continue the decline. Among the minimum extremums, the record for the pound is the 2020 extremum, the bears then tested the level of 1.1411. If we talk about resistances, then their nearest reference points in the current conditions can be noted at 1.2672–78 (weekly target + lower boundary of the monthly cloud).
H4 - H1
On the lower timeframes, the corrective movement continues, which has not yet been able to overcome the resistance of key levels. Levels converged today at 1.2511–21 (weekly long-term trend + central pivot point of the day). At the moment, the pair is below the key levels, so the advantage belongs to the bears, their subsequent reference points for the decline can be noted at 1.2455 – 1.2415 – 1.2359 (support of the classic pivot points). In order to change the current balance of power, bulls need to overcome the resistance at 1.2511–21 and, having securely consolidated above, deploy the moving average. Reference points for the continuation of the rise within the day are at 1.2551 – 1.2607 – 1.2647 (resistance of the classic pivot points).
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In the technical analysis of the situation, the following are used:
higher timeframes – Ichimoku Kinko Hyo (9.26.52) + Fibo Kijun levels
H1 - Pivot Points (classic) + Moving Average 120 (weekly long-term trend)
