EUR/USD

Higher Timeframes

Bearish players attempted to realize the potential of the pullback formed the day before while testing the resistance levels at 1.0700 - 1.0722 (daily short-term trend + monthly medium-term trend). They managed to update the low of the current correction, but a full continuation of the downward trend on the daily chart has not occurred yet. The reference points for bearish players in this market segment are the relatively broad support zone at 1.0578 - 1.0530 - 1.0500 - 1.0447, encompassing boundaries from various timeframes.

H4 - H1

On the lower timeframes, the pair has remained within the influence of key levels for an extended period, which are currently in the range of 1.0651–72 (central pivot point + weekly long-term trend). The positioning below these levels gives some initial advantage to the bears. Reference points for further decline within the day are the supports of classic pivot points (1.0628 - 1.0595 - 1.0572). Consolidation above key levels (1.0651–72) and a reversal of the moving average can change the current balance of power on lower timeframes. In this case, the reference points will become the resistances of classic pivot points (1.0684 - 1.0707 - 1.0740).

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GBP/USD

Higher timeframes

After slowing down around the first target reference point (1.2394), bearish players fully executed the downward target on the break of the daily cloud (1.2311) yesterday. There was no significant slowdown this time, and after crossing this threshold, the bears directed their attention to the next support—the monthly medium-term trend (1.2156). Today, we are closing the week, and the final weekly result is of interest.

H4 - H1

On the lower timeframes, the downward trend continues to develop. Currently, the pound is testing the first support of classic pivot points (1.2238). Further reference points will be S2 (1.2182) and S3 (1.2129). The key levels today serve as resistances, currently located at the levels of 1.2291 (central pivot point of the day) and 1.2355 (weekly long-term trend). Consolidation above these levels and a reversal of the moving average can change the current priorities in favor of strengthening bullish sentiments. In this case, the upward reference points within the day will be the classic pivot points R2 (1.2400) and R3 (1.2456).

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The technical analysis of the situation uses:

Higher timeframes - Ichimoku Kinko Hyo (9.26.52) + Fibo Kijun levels

Lower timeframes - H1 - Pivot Points (classic) + Moving Average 120 (weekly long-term trend)