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EUR/USD
Higher Timeframes
The encounter with the final level of the weekly Ichimoku cross (1.0713) contributed to the slowdown. Therefore, restraining the situation now may still be influenced by the attraction of the weekly (1.0713) and monthly (1.0745) Fibonacci Kijuns, as well as the resistance of the daily short-term trend (1.0751) that has descended to this area. The targets for the continuation and reinforcement of bearish sentiments remain the target of breaking through the daily cloud (1.0519 - 1.0581), reinforced by the monthly medium-term trend (1.0514). In case of a return of bullish activity to form a full-fledged and promising rebound, bulls need to securely consolidate above the weekly medium-term trend (1.0795) and the high of the previous week (1.0796).
H4 – H1
On the lower timeframes, the pair is now in a correction zone. Bulls have managed to rise above the central pivot point of the day (1.0719), turning it into the nearest support, and are focused on the main key level—the weekly long-term trend (1.0756). Consolidation above it may shift the current balance of power in favor of the bulls. If the corrective rise ends, the intraday decline will pass through the supports of classic pivot points, which today are at 1.0704 - 1.0680 - 1.0665.
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GBP/USD
Higher Timeframes
Yesterday, bears completed the day with a long lower shadow on the daily candle. The strength and influence of the support of the weekly Fibonacci Kijun (1.2524) have not been overcome, and this task retains its significance in that direction. For bulls, the immediate plans now boil down to passing through the resistance area 1.2588 - 1.2604 (monthly and daily short-term trends). Consolidation above it will open up new bullish prospects.
H4 – H1
On the lower timeframes, the correction brought the pair to test the resilience of the central pivot point of the day (1.2569). The main reference point for the correction is the weekly long-term trend (1.2605), responsible for the current balance of power. A breakout will strengthen bullish sentiments, with the resistances of the classic pivot points (1.2644 - 1.2677) serving as targets. A rebound from 1.2569 and an exit from the correction zone (1.2535) will restore the downward trend and focus attention on the supports of classic pivot points (1.2527 - 1.2494 - 1.2452).
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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)
*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
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