EUR/USD
Higher Timeframes
There haven't been any significant changes over the past day. The pair remains in a correction and consolidation zone on the daily timeframe. For bullish players to break out of it, they need to overcome the resistance zone of 1.0756 – 1.0766 (upper boundary of the daily cloud + weekly levels) and firmly establish above it. After this, new bullish targets can be considered. The immediate tasks for bearish players continue to focus on eliminating the golden cross of the daily Ichimoku cloud (1.0663 – 1.0627 – 1.0596), breaking free from the attraction and influence of the monthly medium-term trend (1.0614), and the weekly short-term trend (1.0603), as well as exiting and consolidating in the bearish zone relative to the daily Ichimoku cloud (1.0581).
H4 – H1
As of writing, on the lower timeframes, the range of movement is very small, and the pair is in the influence zone of key levels, consolidating around 1.0690 (central pivot point + weekly long-term trend). Consolidation and trading above 1.0690 gives the upper hand to bullish players. If bullish sentiment strengthens within the day, the resistance levels of the classic pivot points may come into play, located today at 1.0715 – 1.0731 – 1.0756. Breaking above 1.0690 and a firm consolidation below key levels could lead to an increase in bearish sentiment. Intraday targets for a bearish scenario may include supports of the classic pivot points (1.0674 – 1.0649 – 1.0633).
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GBP/USD
Higher Timeframes
Yesterday, bullish players attempted to develop a small rebound after testing the final level of the daily Ichimoku cross (1.2205). However, the depth of the daily downward correction is so significant that despite the confirmation and development of the rebound, bearish players have not been able to change the situation and break out of it. For bullish players, the key targets today include 1.2325 (upper boundary of the weekly cloud) and 1.2458 – 1.2506 (a cluster of resistances from different timeframes). The task for bearish players in this segment remains the elimination of the golden cross of the daily Ichimoku cloud (1.2205 final level), reinforced by the weekly short-term trend (1.2231).
H4 – H1
On the lower timeframes, the pair is currently in the influence zone of key levels, which have almost converged around 1.2255-61 (central pivot point of the day + weekly long-term trend). Trading above these levels gives the current advantage to bullish players. In the event of a directional movement, the market's focus within the day will be on resistances (1.2298 – 1.2322 – 1.2365) or supports (1.2231 – 1.2188 – 1.2166) of classic pivot points.
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The technical analysis of the situation uses:
Higher timeframes - Ichimoku Kinko Hyo (9.26.52) + Fibonacci Kijun levels
Lower timeframes - H1 - Pivot Points (classic) + Moving Average 120 (weekly long-term trend)
