EUR/USD
Higher timeframes
The pair managed to mark a new low yesterday, but by the end of the day, one can note a slowdown and bulls' attempt to realize a corrective rise. The main attraction and resistance in this situation is the psychological level of 1.0000. Consolidation above this level on the daily chart will most likely lead to further development of an upward correction. The next upside targets, in this case, will be the resistance of the daily Ichimoku cross (1.0080 – 1.0114-35 – 1.0190). Working below 1.0000 will keep room for further declines.
H4 – H1
As of this writing, the main advantage in the lower timeframes remains on the side of the bears. Nevertheless, the pair is in the correction zone and is now working in the zone of attraction of the central pivot point of the day (0.9963). The development of the correction will lead to a struggle for the key level responsible for the balance of power, which is located today at 1.0045 (weekly long-term trend). If the corrective rise is completed, then reference points for the decline can be noted at 0.9907 – 0.9845 – 0.9789.
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GBP/USD
Higher timeframes
Yesterday's daily candle completely engulfed the previous day's bearish sentiment. As a result, it has not yet been possible to break through the support of 1.1759 in the daily chart, so now we can talk about updating the low, but not about restoring the downward trend. If the downward trend recovers, the next downside target will be 1.1411 (2020 low). If bulls recover their position, then attention will be directed to the wide resistance zone 1.1936 – 1.2073, which united several important milestones of the higher timeframes at once.
H4 – H1
In the lower timeframes, a correction is developing. The bulls have taken over the central pivot point (1.1808). Further, their interests will focus at conquering the key resistance—the weekly long-term trend (1.1880). Consolidation above and reversal of the moving average can change the current balance of power. Among other intraday reference points today, we can note the support of the classic pivot points 1.1738 – 1.1647 – 1.1577 and the resistance of the classic pivot points 1.1899 – 1.1969 – 1.2060.
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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)
