EUR/USD
The euro marked a weekly high and balanced out all the recent gains of the opponent last Friday. However, some deceleration was still indicated, since there was an accumulation of fairly strong resistance levels of 1.1422 - 1.1447 (monthly cloud + weekly Fibo Kijun + upper limit of the daily cloud + first target of the H4 target) on the path of bullish traders. It should be noted that breaking through these levels and abandoning their influence and attraction will allow us to return to the medium-term trends (monthly 1.1492 + weekly 1.1515) in the higher timeframes and struggle to catch it.
In addition, the target for the breakdown of the H4 cloud (1.1505) will also be worked out. As a result, the breakdown of resistances at 1.1492 - 1.1505 - 1.1515 will allow us to consider further prospects. It would be better to do this with a new analysis of the situation after completing the tasks.
The pair has been in the correction zone for so long in the smaller timeframes. By now, the bears have managed to consolidate below the central pivot level of the day (1.1448) and achieve sales approval from most of the analyzed indicators. The nearest downward pivot points to develop the decline will be the support of the classic pivot levels (1.1413 - 1.1376 - 1.1341), and the main key bearish reference point, which is responsible for the balance of power, is now set at 1.1325 (weekly long-term trend). If the pair leaves the correction zone, the relevance will return to the upward pivot points of 1.1485 - 1.1520 - 1.1587 (classic pivot levels).
GBP/USD
The bulls marked a long upper shadow and failed to close above the met resistance, although they were quite productive last week. Therefore, the main task for maintaining and developing the bullish potential in the current area remains the same – the breakdown of Ichimoku dead crosses (daily 1.3599 + weekly 1.3625). The attraction and influence are currently exerted by the accumulation of levels, led by the weekly medium-term trend (1.3537). The nearest support can be noted in the area of 1.3446-61 (weekly levels).
A downward correction in the smaller timeframes led the pair to fight for a key level – a weekly long-term trend (1.3527). A consolidation below and reversal of the moving average can change the current balance of forces in favor of strengthening the bearish mood. The next pivot points in this direction are located at 1.3481 - 1.3438 - 1.3371. On the contrary, if the bulls manage to hold above the level of 1.3527 and regain the central pivot level (1.3548), the further recovery of bullish positions can be expected. Here, upward pivot points at 1.3591 - 1.3658 - 1.3701 (classic pivot levels) will be considered.
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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.