EUR/USD
Higher timeframes
The inability to consolidate below the support of the previous extremum (0.9901) led to a new activity of bulls, who yesterday executed a corrective rise to the nearest reference points—the daily short-term trend (0.9971) and the psychological level (1.0000). Overcoming these resistances will open the way to solving the following tasks: eliminating the daily death cross (1.0066 - 1.0124 - 1.0181) and gaining support for the weekly short-term trend (1.0124).
H4 – H1
Bulls again changed the balance of power in the lower timeframes, rising above key levels. Key levels are consolidating their efforts today in the area of 0.9946–64 (weekly long-term trend + central pivot point). If the upward trend continues within the day, you can focus on the resistance of the classic pivot points (1.0052 - 1.0099 - 1.0187). If the sentiment, due to the predominance of general long-term uncertainty, nevertheless changes its preferences again and manages to gain a foothold below 0.9946–64, then the reference points will be the support of the classic pivot points (0.9917 - 0.9829 - 0.9782).
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GBP/USD
Higher timeframes
The pound tested the nearest important historical support (1.1411) yesterday, but after that, the pair returned to the zone of reflection of recent days. The targets outlined earlier retain their significance. Bears need to overcome 1.1411 and restore the downward trend. Bulls first need to find support for the daily short-term trend (1.1582), and then the resistance of the daily cross (1.1737 - 1.1840) and the levels of 1.1759 and 1.1848 (weekly short-term trend) that reinforce them will come into play.
H4 – H1
On the lower timeframes, the weekly long-term trend (1.1520) has again joined the work. If, this time, it manages to defend the interests of the bears, then the corrective rise will end, and the decline will continue. The reference points for the decline within the day can be noted at 1.1443 - 1.1357 - 1.1309. The breakdown of 1.1520 and the reversal of the moving average will change the current balance of power in favor of the bulls. The classic pivot points (1.1577 – 1.1625 – 1.1711) will become reference points for the continuation of the rise within the day.
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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)