EUR/USD
Higher time frames
The technical setup hasn't changed much over the past 24 hours. The movement is very weak, and the pair is still trading near the daily and monthly pivot levels at 1.0611-19. The nearest resistance for the pair is found at the lower boundary of the Ichimoku Cloud of 1.0750. In case of a decline, the levels of the golden cross pattern at 1.0540 – 1.0480 – 1.0419 will serve as support.
H4 – H1
Uncertainty still prevails in the market. The quote is moving within the key levels of 1.0620-28 (central pivot point + weekly long-term trend). The upward targets for the day are found at standard pivot levels (1.0662 – 1.0700 – 1.0742), while the lower targets that act as support are located at 1.0582 – 1.0540 – 1.0502.
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GBP/USD
Higher time frames
There have been no changes in the pair's trajectory. The pair is fluctuating between the key levels of 1.2184 – 1.2099 on the daily chart. The pair is about to enter a consolidation process. A breakout of the above-mentioned boundaries may change the direction of the price. In this case, bulls will find their upward targets at 1.2302 (monthly medium-term trend + daily short-term trend) and 1.2454 (lower boundary of the monthly Ichimoku Cloud). Meanwhile, bears will have to assert their strength and break through the golden cross pattern (1.2023) on the daily chart. Then, they may push the price lower to the area of 1.1842 – 1.1762 where different support levels have been accumulated.
H4 – H1
The pair is trading mixed on lower time frames. The price is moving in the sideways channel where the resistance line is found at the central pivot level of 1.2162. In case of a decline, the standard pivot levels of 1.2103 – 1.2025 – 1.1966 will act as support. At the moment, the pair is trading under bearish pressure since the price is holding below the key level of 1.2162 (weekly long-term trend). This level serves as a pivot point where the market balance may change at any moment. The next resistance lines for the pair are located at 1.2240 – 1.2299 – 1.2377 (standard pivot levels).
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Technical analysis is based on:
Higher time frames – Ichimoku Kinko Hyo (9.26.52) + Fibo Kijun levels
H1 – Pivot Points (standard) + 120-day Moving Average (weekly long-term trend)