EUR/USD
Higher timeframes
Yesterday did not bring significant changes, the pair worked around 1.0539, where the attraction and influence are exerted by two levels that have combined their efforts (the level of 100% of the monthly target for the breakdown of the Ichimoku cloud + the daily short-term trend). Nevertheless, some bearish preferences were still felt. As a result, today the pair updated the April bottom (1.0471). The further development of the situation will depend on the result of the current movement. As a guideline, in the current situation, the minimum extremum of 1.0339 (2017) can be noted.
H4 - H1
The key levels of the lower timeframes 1.0530 (central Pivot level of the day), 1.0540 (weekly long-term trend) remained today in the area of influence of the levels of the higher timeframes (1.0539). Therefore, it is precisely there that the boundary is now located, which allows changing the current balance of power. At the moment, the advantage belongs to the bears. The first two supports of the classic pivot points (1.0484 – 1.0455) have already been tested. Further, the interest within the day can be directed to the conquest of S3 (1.0409).
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GBP/USD
Higher timeframes
The pound continues to decline, updating the current lows, but at the same time, the scale of the movement is not so great. The support of the psychological level (1.2000) can now be considered as a downward reference in the higher timeframes. If there is a change of priorities and a corrective movement occurs, then the daily short-term trend, which is located at 1.2409 today, will act as a guide for the bulls.
H4 - H1
The resistance of the weekly long-term trend remained unconquered. The bears, having the main advantage, continued to decline. The supports of the classic pivot points 1.2192 – 1.2133 – 1.2030, serve as reference points for the decline within the day, the first support is being tested now.
In the case of the formation of a rebound and the restoration of bullish positions, attention will be directed to interaction with the key levels of the lower timeframes, which today combine their efforts in the area of 1.2295 – 1.2324 (central pivot point + weekly long-term trend). Consolidation above and the reversal of the moving average can change the current balance of power, after which it would be better to re-evaluate the situation. Other upward reference points within the day are located at 1.2354 – 1.2457 – 1.2516 (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)
