EUR/USD
Higher timeframes
Over the course of the week, bulls attempted to develop a rebound that had begun a week earlier when meeting the important psychological support of 1.0000. The main resistance in this direction was provided by the daily medium-term trend (1.0284), as a result, the pair consolidated under it most of the week. A breakthrough of resistance will open the way to the next important line of resistance at 1.0362-70. Overcoming it will allow you to eliminate the daily dead cross and take over the weekly short-term trend. Further prospects for the growth will be the weekly Fibo Kijun (1.0541) and the daily Ichimoku cloud. If the short-term players achieve a decline under the support of 1.0115 (daily short-term trend) and 1.0000 (psychological level), then their main task will be to update the current low (0.9952) and restore the downward trend on all higher time intervals.
H4 - H1
In the lower halves, we observe the development of lateral movement. The center of attraction at this time is the central Pivot level (1.0220). Recently, a weekly long-term trend (1.0189) has risen to the pair's movement - a key level of lower halves, which is responsible for changing the balance of power. Consolidation and working below the level can return bearish activity, which will be interested in strengthening their advantages. Guidelines for the development of movement within the day are the support and resistance of the classic reference levels.
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GBP/USD
Higher timeframes
The weekly candle has a bullish character, but there were no special victories for the players to rise. Having settled above the daily short-term trend, they consolidated between its support (1.1911) and the resistance of the daily medium-term trend (1.2059), remaining in the zone of attraction and influence of the important psychological level of 1.2000. To change the situation in favor of a bullish advantage, you need to eliminate the daily dead cross (1.2059 - 1.2130 final levels) and take over the weekly short-term trend (1.2210). To restore bearish prospects, you need to return to the downward trend state, which can be done by going down to the lowest extremum of the current correction (1.1759).
H4 - H1
The key level (weekly long-term trend 1.1973) has been defending bullish interests for a long time, keeping the main advantage on the side of bulls. The resistance of the classic Pivot levels (1.2035 – 1.2076 – 1.2149) serve as reference points for the continuation of the growth. A change in the situation and a breakdown of support will change the current balance of power. Intraday, when the bears advance, the support of the classic Pivot levels (1.1921 – 1.1848 – 1.1807) can be important.
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In the technical analysis of the situation, the following are used:
Higher timeframes – Ichimoku Kinko Hyo (9.26.52) + Fibo Kijun levels
H1 - Pivot Points (classic) + Moving Average 120 (weekly long-term trend)