FX.co ★ Technical analysis recommendations on EUR/USD and GBP/USD for November 15, 2022

EUR/USD

Higher timeframes

Bulls took a break on the first day of the new working week. The resumption of the rise, the update of the highs, and the breakdown of the resistances 1.0369–85 (daily target + monthly short-term trend) will allow us to consider new upward targets: the nearest can be noted at 1.0611 (weekly Fibo Kijun). If the current support (1.0309 - 1.0285) does not hold the situation now, then there will be a decline, where the main attention will be directed to support the weekly medium-term trend (1.0163).

H4 – H1

On the lower timeframes, the main advantage belongs to bulls. Today they have updated the high of last week. Intraday benchmarks for the rise can now be noted at 1.0407 - 1.0454 (classic pivot points). For players to increase in this area, you need a reliable consolidation above. Today's key levels of the lower timeframes form supports located at 1.0319 (central pivot point of the day) and 1.0172 (weekly long-term trend). Intermediate supports between key levels in the current situation can be noted at 1.0278 – 1.0231 – 1.0190 (supports of classic pivot points).

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GBP/USD

Higher timeframes

Over the past day, the situation has not changed significantly. Testing of a rather strong resistance zone 1.1781 - 1.1842 - 1.1895, which combines weekly and monthly levels, continues. The breakdown will open new prospects for bulls. The nearest upward target is the daily target for the breakout of the cloud (1.2099 - 1.2292), reinforced by the monthly medium-term trend (1.2302). In case this fails and a rebound from the met resistances forms, the movement can be directed to the levels passed earlier, which will now work as support 1.1511 - 1.1411.

H4 – H1

The main advantage is now on the side of the bulls, but the pair is in the correction zone. Intraday benchmarks for the rise can be noted at 1.1883 - 1.1937 (resistance of classic pivot points). Today's key supports are at 1.1764 - 1.1621 (central pivot point + weekly long-term trend). Consolidation below can change the current balance of power in the lower timeframes.

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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)