FX.co ★ Technical analysis and recommendations on EUR/USD and GBP/USD on June 25

EUR/USD

The situation for the last 24 hours has not changed significantly again. The range of motion has declined and the pair remains in the attraction zone of the met resistance levels of 1.1950-75 (lower border of the daily cloud + monthly short-term trend + weekly Fibo Kijun). It was previously noted that a consolidation above will allow us to test the resistance levels of different time frames set at 1.1997 - 1.2027 - 1.2057 - 1.2103. But if new bearish prospects and opportunities for the euro arise, then it is necessary to break through the range of 1.1847-33 (minimum extremum + upper border of the weekly cloud).

The situation in the lower time frames has frozen and is now deprived of active development. Nevertheless, some advantage is on the bulls' side as the key levels and the support of the analyzed technical indicators are located above. Meanwhile, the resistances of the classic pivot levels are seen at 1.1951 - 1.1973 - 1.1989, reinforced by the levels in the bigger time frames.

However, a consolidation below the key levels (1.1935 central pivot level + 1.1915 weekly long-term trend) in the H1 chart will change the balance of power in the smaller periods. After that, the bears can use the support levels of 1.1897 (S2) - 1.1875 (S3) and 1.1847 (minimum extreme).

GBP/USD

The attraction of the levels overcame during the active decline, to which the pair increased for a retest, is now hindering the development of the situation. If the bearish mood returns, it will allow us to consider the borders of 1.3837 (weekly Kijun) - 1.3786 (minimum extreme) - 1.3743 (weekly Fibo Kijun) as pivot points. The breakdown of the encountered resistances 1.3935-58 (levels of the daily cross + weekly Fibo Kijun + monthly and daily Senkou Span B) and 1.4017 (weekly short-term trend + the upper border of the daily cloud) will require a new assessment of the situation, as this may change the balance of forces and open up new prospects.

At the moment, the smaller time frames are dominated by uncertainty, as the situation has been tied to the key levels at 1.3910-31 (central pivot level + a weekly long-term trend) for a long time. A movement above the levels gives an advantage to the bullish traders. It is now important for them to leave the correction zone (1.4000). The resistances of the classic pivot levels are now at 1.3974 - 1.4029 - 1.4072, while the supports are at 1.3876 - 1.3833 - 1.3778. As for the bears, it is important for them to update the minimum extreme (1.3786) in the near future.

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Ichimoku Kinko Hyo (9.26.52) and Kijun-sen levels in the higher time frames, as well as classic Pivot Points and Moving Average (120) on the H1 chart, are used in the technical analysis of the trading instruments.