EUR/USD
The bears showed a good result last Friday. Today, the current month will be closed. To preserve the potential to decline, it is important, if not to multiply, then at least to maintain what has been achieved. Therefore, the bears will most likely seek to end January with a small lower shadow. The nearest downward target is now the weekly target for the breakdown of the cloud (1.0960 - 1.0806). But if the bullish position is restored, the nearest resistance at 1.1186 (minimum extreme of the past) and 1.1245 (daily short-term trend) will be considered.
The pair is in the upward correction zone in the smaller timeframes. The duration of the corrective move made it possible to rebuild the analyzed technical indicators to support the bulls, as well as to consolidate above the central pivot level of the day (1.1147). The key target for the current upward trend is currently set at 1.1232 (central pivot level). A consolidation above it and reversal of the moving average will affect the current balance of forces. In this case, it would be better to re-evaluate the situation and further prospects. However, if bearish activity returns, the intraday support may come from 1.1121 - 1.1094 - 1.1068 (classic pivot levels).
GBP/USD
The bears showed good activity last week. Now, the question is about the result of January. The main question today comes down to the following – will the situation of the implementation of the retest of the monthly short-term trend be able to end with the formation of a rebound or not? In the current situation, the bears will be helped by the weekly levels broken the day before, which united in the area of 1.3461-47. The nearest downward pivot point is now at the lower border of the daily cloud (1.3319).
The bulls managed to rise to a key level, namely to the weekly long-term trend (1.3447). The result of interaction will determine the balance of power and the immediate prospects. A consolidation above and a reversal of the moving average will strengthen the bulls, whose intraday pivot points can be noted at 1.3465 - 1.3497 (classic pivot levels). On the contrary, the formation of a rebound will return the advantage to the central pivot level (1.3397) of the bears and the restoration of the downward trend will return the relevance of the bearish pivot points that can be currently noted at 1.3361 - 1.3329 - 1.3293.
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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.