empty
10.03.2025 09:49 AM
EUR/USD and GBP/USD March 10 – Technical Analysis

EUR/USD

This image is no longer relevant

Last week, the EUR/USD pair closed within the weekly cloud, with the lower boundary at 1.0825. It reached the final level of the monthly Ichimoku cross at 1.0856. If the pair successfully overcomes these resistance levels, it will pave the way to the upper boundaries of the Ichimoku cloud at the monthly level (1.0943) and the weekly level (1.0948). Conversely, a rebound from the tested range of 1.0825 to 1.0856 could push the pair back toward previous clusters of resistance around 1.0727 to 1.0696, which align with the weekly medium-term trend as well as the monthly Tenkan and Kijun lines.

This image is no longer relevant

On lower timeframes, buyers currently hold the advantage. To maintain the upward movement, they need to break through the resistance at the classic Pivot levels for the day, which are positioned at 1.0888, 1.0942, and 1.0995. If the upward momentum fails, sellers may test the support levels at the classic Pivot points (1.0781 to 1.0728) before reaching the weekly long-term trend at 1.0692. This trend is crucial in determining the current balance of power, so a breakout and reversal below this level would enable sellers to plan for a longer-term downward move.

***

GBP/USD

This image is no longer relevant

Buyers are currently facing a significant resistance zone. Although several levels have been surpassed, the target for a breakout, represented by the daily Ichimoku cloud (ranging from 1.2952 to 1.3047), remains a hurdle. A successful breakout and consolidation above this zone could lead to new bullish targets, including a potential rise to the nearest high at 1.3433. However, if buyers fail at this point, bearish activity could revert to the previously established support zone (between 1.2873 and 1.2751).

This image is no longer relevant

On lower timeframes, buyers are in a more favorable position. Key reference points for maintaining upward momentum throughout the day are located at the classic Pivot levels of 1.2950, 1.2981, and 1.3018. If a corrective decline occurs, the pair may find support at the classic Pivot levels (ranging from 1.2882 to 1.2845), followed by a longer-term weekly trend line at 1.0692. A breakout below this trend could shift the balance of power in favor of sellers.

***

Technical Analysis Components:
  • Higher Timeframes: Ichimoku Kinko Hyo (9.26.52) and Fibonacci Kijun levels
  • H1: Classic Pivot Points and 120-period Moving Average (weekly long-term trend)
Evangelos Poulakis,
Analytical expert of InstaForex
© 2007-2025
Select timeframe
5
min
15
min
30
min
1
hour
4
hours
1
day
1
week
Earn on cryptocurrency rate changes with InstaForex
Download MetaTrader 4 and open your first trade
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST

Recommended Stories

XAU/USD. Analysis and Forecast. Current Market Situation

From a technical standpoint, gold on the 4-hour chart has established acceptance below the 100-period Simple Moving Average (SMA), signaling a potential continuation of the decline. Moreover, oscillators

Irina Yanina 18:27 2025-06-24 UTC+2

Trading Signals for GOLD (XAU/USD) for June 24-28, 2025: sell below $3,327 (21 SMA - 200 EMA)

This area of 3,300 represents strong support, but we believe gold could make a technical rebound in the coming hours toward 3,327. At this point, it could resume its bearish

Dimitrios Zappas 18:05 2025-06-24 UTC+2

Trading Signals for EUR/USD for June 24-28, 2025: sell below 1.1620 (triple top - 8/8 Murray)

The H4 chart shows a triple-top formation pattern. If the euro price falls below 1.1620, the signal will be negative, and we could sell with a target at 1.1533. EUR/USD

Dimitrios Zappas 18:04 2025-06-24 UTC+2

Forex forecast 24/06/2025: EUR/USD, USD/JPY, USDX, GBP/USD, Oil and Bitcoin

Useful links: My other articles are available in this section InstaForex course for beginners Popular Analytics Open trading account Important: The begginers in forex trading need to be very careful

Sebastian Seliga 12:35 2025-06-24 UTC+2

Forecast for EUR/USD on June 24, 2025

On Monday, the EUR/USD pair on the hourly chart performed two rebounds from the 76.4% Fibonacci retracement level at 1.1454, reversed in favor of the euro, and rose

Samir Klishi 10:48 2025-06-24 UTC+2

Forecast for GBP/USD on June 24, 2025

On the hourly chart, the GBP/USD pair on Monday rebounded from the support zone of 1.3357–1.3373, reversed in favor of the British pound, and consolidated above the 1.3425–1.3444 zone

Samir Klishi 10:44 2025-06-24 UTC+2

Could Gold's weakening correction succeed in bringing it to the 3320 level, Tuesday, June 24, 2025.

1. Market Sentiment Summary: After Gold rose quite significantly yesterday, this morning Gold experienced a downward correction of up to -0.39% where the correction was a combination of the current

Arief Makmur 10:43 2025-06-24 UTC+2

EUR/USD Forecast for June 24, 2025

On Monday, the euro successfully broke through the linear resistance at 1.1535 and the MACD line. From the opening of the Pacific session, the price continued to rise steadily toward

Laurie Bailey 04:51 2025-06-24 UTC+2

GBP/USD Forecast for June 24, 2025

GBP/USD The bulls in the British pound forcefully overcame the pressure from the bears, who had been anticipating the 1.3208 target. However, at this point, the resistance of the MACD

Laurie Bailey 04:47 2025-06-24 UTC+2

USD/JPY Forecast for June 24, 2025

USD/JPY The technical picture on Monday may shape future developments in the medium term. The week began with a gap up, followed by the formation of a long upper shadow

Laurie Bailey 04:44 2025-06-24 UTC+2
Can't speak right now?
Ask your question in the chat.
Widget callback
 

Dear visitor,

Your IP address shows that you are currently located in the USA. If you are a resident of the United States, you are prohibited from using the services of InstaFintech Group including online trading, online transfers, deposit/withdrawal of funds, etc.

If you think you are seeing this message by mistake and your location is not the US, kindly proceed to the website. Otherwise, you must leave the website in order to comply with government restrictions.

Why does your IP address show your location as the USA?

  • - you are using a VPN provided by a hosting company based in the United States;
  • - your IP does not have proper WHOIS records;
  • - an error occurred in the WHOIS geolocation database.

Please confirm whether you are a US resident or not by clicking the relevant button below. If you choose the wrong option, being a US resident, you will not be able to open an account with InstaForex anyway.

We are sorry for any inconvenience caused by this message.