EUR/USD

Higher time frames

Once again, bullish players could not overcome the resistance at the upper boundary of the monthly cloud (1.1184), leaving the task of entering the bullish zone at this section of the chart unrealized. As a result, the market returned to the support of the daily Ichimoku cross yesterday, where the main levels are Tenkan (1.1098) and Kijun (1.1103). Another consolidation within the daily cross (1.1126 – 1.1079) is now possible, as the question of which players will gather enough strength for subsequent movement will be determined. For bullish players, the desired level is at 1.1184, while bearish players are interested in the daily cloud and weekly support (1.0990-73), reinforced by the lower boundary of the monthly cloud (1.0967).

H4 – H1

Key levels have shifted to the bearish players' side on the lower time frames. The pair is consolidating below them (1.1121, the central pivot level of the day + 1.1136, the weekly long-term trend). Holding the key levels gives some advantage to bearish players. Further strengthening of bearish sentiment today intraday may pass through the supports of classic pivot levels (1.1074 – 1.1037 – 1.0990). If bullish players manage to recover above 1.1121 – 1.1136, the rise's continuation will develop due to overcoming the resistances of the classic pivot levels (1.1158 – 1.1205 – 1.1242).

***

GBP/USD

Higher time frames

On the first day of the new week, bullish players updated last week's peak (1.3339). The market is currently continuing its upward movement, albeit slowly. The nearest bullish target in the current conditions could be the psychological level (1.3400). The level of 1.3300, surpassed the day before, may now exert attraction, and if a new consolidation forms, it could serve as its center. Should bearish sentiment strengthen, the next support zone will be the cluster of levels from the daily Ichimoku cross (1.3215 – 1.3198 – 1.3169 – 1.3123).

H4 – H1

While developing the upward trend on lower time frames, bullish players updated yesterday's high (1.3358). Resistance from classic pivot levels (1.3385 – 1.3427 – 1.3496) serves as a target for continuing the rise intraday. Today's key levels in the lower time frames are 1.3316 (central pivot level of the day) and 1.3262 (weekly long-term trend). If a correction develops, these levels will meet the market and determine the further distribution of power and balances. A breakout and trend reversal could shift the main advantage to the bearish players. Additional intraday targets for strengthening bearish sentiment may be the support of classic pivot levels S2 (1.3205) and S3 (1.3163).

***

This technical analysis is based on the following ideas:

Larger time frames - Ichimoku Kinko Hyo (9.26.52) + Fibo Kijun levels

H1 – classic pivot points + 120-period Moving Average (weekly long-term trend)