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EUR/USD
The situation has not undergone significant changes within the past 24 hours. All major levels remain in their place. The bears continue to struggle to break through important support levels in the area of 1.1695 (monthly Fibo Kijun) and 1.1644 (minimum extremum). It will be possible to assess the new downward prospects only after breaking through the level of 1.1695 and then 1.1664. The continuation of consolidation in the attraction zone of the levels will remain uncertain. The formation of a rebound can cast doubt on the implementation of bearish plans, returning the initiative and opportunities to the bulls.
The bears have the advantage in the smaller timeframes. At the moment, the first support for the classic pivot levels (1.1678) is being tested. Once it declines, we can consider the next support levels – S2 (1.1660) and S3 (1.1636). The key levels are forming a resistance zone today, ranging from 1.1702 (central pivot level) to 1.1718 (weekly long-term trend). A consolidation above will change the balance of forces acting on the hourly chart in favor of bullish traders. The next upward pivot points here will be R2 (1.1744) and R3 (1.1762).
GBP/USD
The pound tested an important accumulation of resistances at 1.3723-30 (daily short-term trend + weekly cloud upper border). The indicated daily result hindered the bulls to break through these levels, and as a result, the rival took the lead again. If the bears retain their advantages in the current conditions, then the main task to further decline will be to break through the minimum extremes of the previous months (1.3571 - 1.3601) and consolidate the situation at new lows.
The issue of holding key levels on the H1 timeframe is currently being resolved, which are at the borders of 1.3678 (weekly long-term trend) - 1.3693 (central pivot level) today. It should be noted that trading above these levels contributes to the strengthening of bullish mood. Here, the upward pivot points are set at 1.3729 - 1.3764 - 1.3800.
In turn, a consolidation below the levels of 1.3678-93 and continued decline will allow strengthening and developing bearish opportunities. Today, 1.3658 - 1.3622 - 1.3587 (support for the classic pivot levels) serve as downward targets.
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Ichimoku Kinko Hyo (9.26.52) and Kijun-sen levels in the higher time frames, as well as classic Pivot Points and Moving Average (120) on the H1 chart, are used in the technical analysis of the trading instruments.
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