EUR/USD
Higher timeframes
Last week did not bring clarity to the market's preferences. However, the nature of the current uncertainty indicates that a breakdown of the support of the lowest extremum of the current correction (0.9901) and the resumption of the downward trend can quickly return bearish results to the market. The next downside targets can be seen at the 0.9000 (psychological) and 0.8225 (2000 lows) levels. In order to keep the situation from falling under the current conditions, bullish players must first regain the daily short-term trend (0.9995) and gain a foothold above the psychological level (1.0000). Further, their prospects will be associated with the elimination of the daily dead cross Ichimoku (1.0080 - 1.0135 - 1.0190) and testing the strength of the weekly short-term trend (1.0182).
H4 - H1
Uncertainty dominates in the lower halves. Key levels now serve as a center of gravity and keep the situation from developing. At the moment they are located in the area of 0.9995-70 (central Pivot level + weekly long-term trend). Working in close proximity to the levels and their horizontal arrangement retains the current uncertainty. Going beyond the final reference points of the classic Pivot levels (1.0175 - 0.9740) will allow us to consider new perspectives for movement.
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GBP/USD
Higher timeframes
The completed working week had a fairly good bearish result. The pair, continuing its decline, approached the next important target at 1.1411 (the lowest extreme of 2020). The result of interaction with this level will determine future prospects. In the event of an upward correction, the value, when players restore their positions for an increase, will first of all be 1.1698 (a daily short-term trend) and 1.1759 (the level of the previous lowest extremum).
H4 - H1
Developing a downward trend in higher time slots, shorts now have a major advantage in the lower halves. Reference points for intraday decline are the support of the classic Pivot levels (1.1486 – 1.1431 – 1.1364). It is possible to change the current balance of power at lower time intervals by overcoming the resistance of the classic Pivot levels, which at the time of analysis can be noted at 1.1553 (central Pivot level) and 1.1630 (weekly long-term trend).
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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)