EUR / USD

The euro/dollar pair continued to fall and after breaking through the important support level of 1.1740, it declined further into the daily Ichimoku cloud. Breaking through which will further strengthen the downside. Now, the next pivot point for the decline is the support zone located within 1.1567 (lower limit of the daily cloud) - 1.1521 (weekly Fibo Kijun) - 1.1458 (monthly Fibo Kijun).

In case of retesting the overcome levels, there will be a resistance at 1.1740-50 (lower limit of the monthly cloud + upper limit of the daily cloud), with further development of the daily upward correction. The resistance of the daily Ichimoku cross, strengthening by the weekly short-term trend (1.1826), will have the main value.

The advantage is on the bears' side in the smaller time frames. Today, the downward trend continued. At the moment, the support of the classic pivot level S1 (1.1675) is being tested, while the downside targets are located at S2 (1.1643) and S3 (1.1594). If the current decline develops into an upward correction, the key resistances will reach the euro at 1.1724 (central pivot level) and 1.1793 (weekly long-term trend). The nearest resistance is possibly the level of 1.1756.

GBP / USD

The bearish traders continue to strengthen their positions, implementing the daily downward trend. The support levels reached in the current situation are located in a wide area - 1.2777 (weekly Kijun + the lower border of the daily cloud) - 1.2711 (monthly Fibo Kijun) - 1.2612 (weekly Fibo Kijun). A consolidation below these supports will allow the cancellation of Ichimoku weekly gold cross and formation of a downward target on the breakdown of the daily cloud.

The analyzed technical instruments give preference to strengthening bearish moods. The bears set a new low and continued their decline. Now, the support for S1 (1.2671) is being tested, while further supports of the classic pivot levels are located at 1.2612 and 1.2512. Today, the key resistances are located at 1.2768 (central pivot level) and 1.2881 (weekly long-term trend), and the nearest resistance is at 1.2827.

Ichimoku Kinko Hyo (9.26.52), Pivot Points (Classical), Moving Average (120)