EUR/USD

Higher time frames

Yesterday, bulls were leading in the market. They continued to push the price higher so that the pair retested the highs from the previous week. The nearest target for bulls is now found at the monthly resistance level of 1.0611. The pair's behavior near this level will determine its future direction. In the current situation, the support levels on higher time frames are left far behind. They will serve again if the price returns to the level of 1.0391 (daily short-term trend).

H4 – H1

On lower time frames, bulls are also in control of the market. In case of a further uptrend, the pair will face resistance at the standard pivot levels of 1.0574 – 1.0625 – 1.0715. The key levels on lower time frames act as support and are found at 1.0484 (central pivot level) and 1.0403 (weekly long-term trend). If the price settles below this range, this will change the market balance and the technical setup will need to be revised.

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GBP/USD

Higher time frames

As the pair continued its advance on Thursday, bulls managed to closely approach the daily upward targets at 1.2292 – 1.2302 (fully tested target + monthly medium-term trend). When testing these levels, the pair may slow down and develop a rebound. A break above the current resistance levels will open the way to the lower boundary of the Ichimoku Cloud on the monthly chart (1.2454). The support area is indicated at the levels of 1.2063 – 1.2099 (daily short-term trend + first daily target).

H4 – H1

The bullish trend is prevailing on lower time frames. The upward targets are located at the resistance of standard pivot levels of 1.2353 – 1.2461 – 1.2612. The key levels of 1.2202 (central pivot level) and 1.2069 (weekly long-term trend) serve as support. A steady hold below this range will change the current market balance. The main focus will be on the support area located at the standard pivot levels of 1.1943 – 1.1835.

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Technical analysis is based on:

Higher time frames – Ichimoku Kinko Hyo (9.26.52) + Fibo Kijun levels

H1 – Pivot Points (standard) + 120-day Moving Average (weekly long-term trend)