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FX.co ★ Technical analysis recommendations on EUR/USD and GBP/USD for July 27, 2022

Technical analysis recommendations on EUR/USD and GBP/USD for July 27, 2022

EUR/USD

Technical analysis recommendations on EUR/USD and GBP/USD for July 27, 2022

Higher timeframes

Yesterday, bears attempted to exit the previous day's consolidation zone and went down to the support area of the daily short-term trend (1.0143). Preservation of intentions and continuation of the decline will open the way to the supports (1.0000 – 0.9952), separating the bears from the recovery of the downward trend in all higher timeframes. For bulls, any prospects are still possible only after passing the resistance of the daily medium-term trend (1.0284).

Technical analysis recommendations on EUR/USD and GBP/USD for July 27, 2022

H4 – H1

In the lower timeframes, the main advantage is on the side of the bears, who seized the key levels that protect their interests today, located at 1.0158 (central pivot point) and 1.0192 (weekly long-term trend). The reference points for the development of decline today within the day are at 1.0066 – 1.0016 – 0.9924 (support of the classic pivot points).

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GBP/USD

Technical analysis recommendations on EUR/USD and GBP/USD for July 27, 2022

Higher timeframes

The main task of bulls in the current segment of the market is to eliminate the daily death cross (1.2046 – 1.2113). These levels are now being tested—there has been a slowdown. Consolidation above is an opportunity to continue the rise to the next reference point—the weekly short-term trend (1.2210). Failure to do so and a return below 1.2000 – 1.1946 (psychological level + daily short-term trend) may reinforce bearish sentiment.

Technical analysis recommendations on EUR/USD and GBP/USD for July 27, 2022

H4 – H1

In the lower timeframes, the advantage remains on the bulls' side. Their reference points today within the day are at 1.2089 – 1.2152 – 1.2215 (resistance of classical pivot points). A decline below the key levels, currently noted at 1.2026–05 (central pivot point + weekly long-term trend), can change the current balance of power. The next bearish targets are at 1.1963 – 1.1900 – 1.1837 (support for the classic pivot points).

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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)

*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade
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