EUR/USD
The closing result of the last weekly candle was a long upper shadow. The pair tested the accumulation of resistance around 1.1439-92, marked a slowdown, and formed a pullback on Friday. The preservation and development of bearish mood can contribute to the implementation of a rebound on higher timeframes, which may result in a decline to daily supports (1.1380 - 1.1353), and then to the supports of the consolidation zone of 1.1335 - 1.1290 (weekly short-term trend + monthly level).
It is worth noting that overcoming the consolidation zone and updating the low (1.1186) will complete the weekly upward correction and restore the weekly downward trend. But if the bulls restrain their opponent to restore positions and break through the range of 1.1439-92 (monthly levels + weekly Fibo Kijun + upper limit of the daily cloud), then new opportunities will open before them, where the first task will be to eliminate the weekly dead Ichimoku cross (1.1547 - 1.1632).
The bulls are still in favor in the smaller timeframes, but they are currently near the key support responsible for the distribution of forces. A consolidation below the long-term weekly trend (1.1399) and a reversal of the moving average may strengthen the bearish mood, while the balance of power will change. In this case, the pivot points to further decline will be the supports of the classic pivot levels (1.1381 - 1.1348 - 1.1297). In turn, if the bulls retain the support of the weekly long-term trend (1.1399), and manage to regain the central pivot level (1.1432), then they can further recover their positions. The resistance of the classic pivot levels (1.1465 - 1.1516 - 1.1549) will act as intraday upward pivot points.
GBP/USD
The daily Chinkou line continues to be in the zone of maximum distance from the chart. Due to this, the pair has outlined a deceleration in the area of the encountered resistances 1.3669 (weekly Fibo Kijun) - 1.3704 (monthly Tenkan). The formation of the result of interaction with confirmation in the higher timeframes will determine further prospects for the development of the situation. A consolidation above 1.3669 - 1.3704 will contribute to the continuation of growth and the strengthening of bullish mood. The next pivot points here are 1.3887 - 1.3907 (upper borders of the weekly and monthly clouds). If a rebound occurs from 1.3669 - 1.3704 and then a decline, the nearest supports of the bears can be noted at 1.3619 (daily short-term trend) and 1.3571 (weekly medium-term trend).
The pair has declined to the key support of smaller periods, which is now located at 1.3659 (a weekly long-term trend), while maintaining the location above this level. This allows us to maintain the main advantage on the bullish side. The upward pivot points to restore the position can be noted at 1.3689 - 1.3726 - 1.3779 - 1.3816 (classic pivot levels). The breakdown of the level of 1.3659 will change the current balance of forces here, creating opportunities to strengthen the bearish mood. The downward pivot points can be noted at 1.3636 - 1.3599 - 1.3546 (classic pivot levels).
***
Ichimoku Kinko Hyo (9.26.52) and Kijun-sen levels in the higher time frames, as well as classic Pivot Points and Moving Average (120) on the H1 chart, are used in the technical analysis of the trading instruments.