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EUR/USD
Higher Timeframes
The first working day lacked bullish activity. The market slowed down, with bearish players currently seeking to take control of the situation. If the bears manage to lead, a broad support zone (1.0889 – 1.0876 – 1.0862 – 1.0839) will quickly come into play, which previously acted as resistances and long restrained the upward movement. However, suppose the bulls break beyond the daily (1.0932) and weekly (1.0954) Ichimoku clouds. In that case, new perspectives will unfold before them, such as the high (1.1140) and the daily target for breaking through the cloud (1.1121 – 1.1169).
H4 – H1
On lower timeframes, the pair continues to trade within the correction zone. The range of classic pivot points has significantly diminished today. In the event of a resumption of the ascent, bullish players expect resistance at classic pivot points, currently marked at 1.0945 – 1.0964 – 1.0979. The key levels of lower timeframes during the development of the correction will encounter the market today at 1.0930 (central pivot point) and 1.0908 (weekly long-term trend). Breaking these boundaries can alter the current balance of power and pave the way to the supports of classic pivot points (1.0896 – 1.0877).
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GBP/USD
Higher Timeframes
On the daily timeframe, a significant decline was noted yesterday, accompanied by a reversal candlestick combination. For bearish players, it is now crucial to develop and confirm this result on the weekly timeframe. The nearest supports in the current situation remain the levels of the daily Ichimoku cross, located today at 1.2746 (short-term trend) and 1.2710 (medium-term trend). For bullish players, the situation on the current market segment continues to be influenced by the lower boundary of the monthly cloud (1.2892).
H4 – H1
On lower timeframes, the pair continues to trade within the downward correction zone. The main reference point for the correction is the support of the weekly long-term trend (1.2772). Consolidation below it may alter the current balance of power, favoring the strengthening of bearish sentiments. Intraday reference points also include classic pivot points. For bearish players, the support levels at 1.2754 – 1.2715 will be crucial after breaking the weekly trend. For bullish players, the situation may develop by breaking the resistances of classic pivot points (1.2849 – 1.2888 – 1.2916).
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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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