EUR/USD

The supports of the daily Ichimoku cloud did not allow the bearish traders to continue the decline indicated at the end of last week. In the near future, it is the daily cloud that will support the interests and opportunities of the bulls. Today, the levels of the cloud can be noted within the range of 1.1862-41-32-20. If the bulls manage to hold positions with the help of daily supports, then the next task to restore positions will be to overcome the resistances of 1.1909-20 (last week's high + weekly Fibo Kijun).

The situation did not undergo significant changes on the lower time frames since the last day did not differ in the effectiveness of the movement. The pair remained in the correction zone, the center of attraction of which is now the central pivot point (1.1876). The central pivot (1.1876) and the weekly long-term trend (1.1856) are the key levels on the H1 and determine the main advantage in the distribution of power. Trading above these levels preserves and increases the chances of bulls in their quest to hold their ground and continue to climb. The upward reference points within the day are the resistance of the classic pivot levels 1.1892 - 1.1914 - 1.1930. Consolidation and trading below key levels (1.1876-56) will allow considering options for strengthening bearish sentiment. The next supports within the day will be 1.1838 (S2) - 1.1816 (S3).

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GBP/USD

The accumulation of strong levels, which in the current situation form resistance, as well as exert the current attraction and influence, is currently holding back the development and implementation of the bulls. The pound will be able to take advantage of the indicated July potential only after going beyond this zone of resistance and attraction 1.3881 - 1.3910 - 1.3958 - 1.3990 (upper border of the monthly cloud + daily cloud + weekly Ichimoku cloud). Failure will bring the pair back to the daily cloud supports, the upper levels of the cross (1.3836-25) are now strengthened by the weekly Fibo Kijun (1.3830), and the lower ones are located at 1.3777 and 1.3728.

On lower time frames, bulls use key levels, today they are located at 1.3897 (central pivot point) and 1.3905 (weekly long-term trend) to maintain and hold their positions and advantages. Trading above these levels allows us to hope for the restoration of positions and the resumption of the upward trend (1.3982). The loss of levels will affect the current balance of power. Support within the day can now be noted at 1.3862 - 1.3840 - 1.3805 (classic pivot points).

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In the technical analysis of the situation, the following are used:

higher time frames - Ichimoku Kinko Hyo (9.26.52) + Fibo Kijun levels

H1 - Pivot Points (classic) + Moving Average 120 (weekly long-term trend)