EUR/USD

Higher timeframes

The pair has been busy testing the important psychological level of 1.0000 for the past week. The level was very accurately noticed, and the main reaction to the meeting with support was braking. By the end of the week, there was a corrective rebound on the daily timeframe, which formed a long lower shadow on the weekly interval. If the pair leaves the zone of stagnation, indicated when testing the level of 1.0000, and the players on the rise manage to continue recovering their positions, then the main task in this direction will be testing the resistance of the daily dead cross (now it is 1.0200 - 1.0216 - 1.0297 - 1.0378), with its subsequent liquidation. At the same time, it will be important for bulls to find support for the weekly short-term trend, at the moment it is located at 1.0370. The players' failure to rise and the breakdown of the 1.0000 support will send the bears to the next significant milestone in history, the lowest extreme in 2000 (0.8225).

H4 - H1

The daily activity of the players to rise led to the fact that in the lower halves the main advantage passed to the bulls' side. They took over key levels and turned them into supports. Action above the key levels now at 1.0052 (central reference of the day) and 1.0010 (weekly long-term trend) will maintain the bullish edge. To develop a rise, bullish players will use the resistance of the classic Pivot levels as a reference point within the day. The loss of support at key levels will lead to a change in the balance of power in the lower halves. In case of a decrease, reference points within the day will serve as support for the classic Pivot levels. For example, now they are located at 0.9960 - 0.9902 - 0.9852.

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GBP/USD

Higher timeframes

Shorts weren't very productive last week. However, they maintained the downward trend, marking a new low for it. The reference point for the continuation of the decline in this area is the 1.1411 line (the lowest extremum of 2020). In case of an upward correction for bulls, the next important task will be a breakdown and consolidation above the resistances of 1.1942 (daily short-term trend) and 1.2000 (psychological level). Reliable consolidation above 1.2000 - 1.1942 will allow considering new perspectives.

H4 - H1

In the lower halves, the pair is in the correction zone. The key level, which is responsible for the preponderance of forces, is now located in the area of 1.1880 (long-term weekly trend). Consolidation above and reversal of the moving average will change the current balance of forces in favor of the bulls. The reference points for the rise within the day will be the resistance of the classic Pivot levels. Now it is 1.1957 (R2) and 1.2022 (R3). When leaving the correction zone (1.1759 low), the reference points for intraday decline will be the support of the classic Pivot levels, at the moment they are located at 1.1756 – 1.1691 – 1.1623.

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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)