Stay 
Trading Conditions
Products
Tools
EUR/USD
Higher timeframes
August was closed without clear advantages of one of the parties. Bears failed to break through the psychological level of 1.0000 in August. This level and the daily short-term trend (0.9995) that descended to it now serve as the main area of attraction and preservation of uncertainty. In the current situation, the main reference points for the development of the situation continue to be the minimum extremum of the current correction (0.9901) and the resistance of the daily death cross (1.0080 - 1.0135 - 1.0190), and the weekly short-term trend (1.0182).
H4 – H1
In the lower timeframes, the main advantage remains on the side of the bulls. At the same time, interaction with key levels continues, which are located today at 1.0034 (central pivot point of the day) and 0.9997 (weekly long-term trend). Working above key levels maintains the advantage of the bulls. The reference points for the upward movement within the day are 1.0098 – 1.0142 – 1.0206 (resistance of the classic pivot points). Work below key levels and a reversal of the moving average will lead to a change in sentiment and an increase in bearish sentiment. The reference points for the downward movement within the day are 0.9990 - 0.9926 - 0.9882 (support of the classic pivot points).
***
GBP/USD
Higher timeframes
August went down in history as a convincing bearish result. All the July efforts of the bulls are in the past. The pair has restored the downward trend on all higher timeframes. The next target for the decline is now at 1.1411 (2020 low). The nearest zone of resistance in the current situation is the area of 1.1734–59 (daily short-term trend + historical support).
H4 – H1
Bears maintain its advantage on the lower timeframes. They are now testing the first support for the classic pivot points (1.1580). Further support may be provided by 1.1541 (S2) and 1.1485 (S3). In case of an upward correction, the resistance of the key levels can be noted today at 1.1636 (central pivot point of the day) and 1.1706 (weekly long-term trend).
***
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)
InstaForex analytical reviews will make you fully aware of market trends! Being an InstaForex client, you are provided with a large number of free services for efficient trading.
