FX.co ★ EUR/USD, GBP/USD - results of the week and future prospects

EUR/USD

The week ended again with bulls having the upper hand. This time, they were able to close the week above important resistance levels around 1.1976 (lower cross + monthly short-term trend). Being able to settle higher will allow the growth to continue. The next upward reference point, if the quote continues to rise, will be the daily cloud (1.2007 - 1.2092), reinforced by the weekly Fibo Kijun (1.2064). If the strength of the resistances we encounter still affects the further development of events, then the current slight deceleration may develop into a daily downward correction. Support levels that combine daily and weekly boundaries are currently located at 1.1886 - 1.1850 - 1.1814.

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GBP/USD

The bulls marked last week. The pair has come close to accumulating important resistances. As a result, if bulls retain their advantages and manage to continue the growth, then they will have to interact and fight for possession of the trend line of the current weekly and monthly corrective decline, the elimination of the Ichimoku daily dead cross (1.3837-76), and also the breakdown of the daily cloud ( 1.3845 -1.3924-55). Overcoming these tasks will allow you to start testing the weekly and monthly boundaries located in the zone 1.3955 - 1.4002. If the resistance encountered again provokes a decline, then the breakdown and overcoming of the 1.3710 - 1.3669 zone (weekly level + the minimum extremum of the current movement) will be of primary importance on the path of the emergence of new bearish prospects.

Ichimoku Kinko Hyo (9.26.52), Pivot Points (Classic), Moving Average (120)