EUR/USD
Higher Timeframes
The market is not in a hurry to wake up after the weekend. The nearest active supports remain at 1.0876 – 1.0860 (weekly Fibonacci Kijun + monthly short-term trend). A breach of this level will enhance bearish sentiment and allow for the consideration of new perspectives. The next supports can be noted at 1.0795 – 1.0745 – 1.0713. A full rebound and recovery of bullish position will help to test the weekly resistances (1.0927-32) and the levels of the death cross of the daily Ichimoku cloud (1.0923 – 1.0958 – 1.0993 – 1.1027).
H4 – H1
On the lower timeframes, the pair is currently attempting to consolidate above the key levels at 1.0892-87 (central pivot point + weekly long-term trend). Further development of the situation within the day will be associated with passing the resistances of the classic pivot points (1.0909 – 1.0919 – 1.0941). Losing key levels and the return of bearish activity will lead to testing the strength of supports of the classic pivot points (1.0877 – 1.0855 – 1.0845).
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GBP/USD
Higher Timeframes
With the opening of the workweek, the weekly short-term trend (1.2661) has risen closer to the price chart, attempting to push players on the rise above the boundaries of the weekly consolidation zone (1.2826). If the market fails and loses the support of the weekly short-term trend, then the next main task for bears will be to break through the accumulated supports (1.2552 – 1.2588 – 1.2603).
H4 – H1
The market has recently risen above the key levels on the lower timeframes. At the moment, the pair is retesting the passed levels, which are now transformed into supports and are located at 1.2681-91 (central pivot point + weekly long-term trend). If a breakdown occurs and bearish activity returns, attention will be directed to the supports of the classic pivot points (1.2669 – 1.2638 – 1.2616). If the retest ends with a rebound, then bulls will head to the resistances of the classic pivot points (1.2722 - 1.2744 - 1.2775).
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The technical analysis of the situation uses:
Higher timeframes - Ichimoku Kinko Hyo (9.26.52) + Fibonacci Kijun levels
Lower timeframes - H1 - Pivot Points (classic) + Moving Average 120 (weekly long-term trend)