EUR/USD
Higher time frames
Despite updating last week's highs, the EUR/USD pair failed to rise and finally fell and came under pressure of strong levels (1.0385 - 1.0368 - 1.0360). Moreover, a consolidation is possible due to the attraction and influence of the levels within the limits of 1.0385 - 1.0285. If the pair manages to fix below, the situation may change and a downtrend will start. The level of 1.0611 (monthly Fibo Kijun) remains the next target for bulls.
H4 – H1
The lower times remain uncertain. The market is in the attraction zone of the key levels 1.0389 - 1.0373 (central daily Pivot point + weekly long-term trend). A consolidation above these levels will give advantages to bulls. Resistance of classic Pivot points will be considered their daily targets. Today, they may be registered at 1.0447 - 1.0555 - 1.0613. If the pair declines below the key levels and follows a downtrend, it will reach the support of classic Pivot points. Now they are at 1.0281 - 1.0223 - 1.0115.
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GBP/USD
Higher time frames
The test of the first target, i.e. daily target for breaking through the Ichimoku cloud (1.2099), led to the formation of the daily rebound. At the same time, the GBP/USD pair reached the support of the daily short-term trend (1.1957). In case of further decline, the pair will enter a support zone of 1.1895 - 1.1842 - 1.1744 (monthly and weekly levels). If the pair continues rising taking into account the daily short-term trend (1.1957), the next upward target is now the area of 1.2292 - 1.2302 (100% fulfillment of daily target + monthly medium-term trend).
H4 – H1
Bears fell below the key levels on the lower time frames. However, bears still remain in the zone of their attraction and influence 1.2005-23 (central Pivot point + weekly long-term trend). In case of further movement, downward targets are at 1.1892 - 1.1828 - 1.1715 (classic Pivot points support), upward targets are at 1.2069 - 1.2182 - 1.2246 (classic Pivot points resistance).
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The technical analysis of the situation uses:
Higher time frames - Ichimoku Kinko Hyo (9.26.52) + Fibo Kijun levels
H1 - Pivot Points (classic) + Moving Average 120 (weekly long-term trend)
