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Technical analysis recommendations for EUR/USD and GBP/USD on July 9
EUR / USD
The upward players retained their advantage, remaining above an important reference level - the monthly medium-term trend (1.1245). Thanks to this, they regained their initiative and are now continuing to rise. The nearest resistances are located at 1.1389 - 1.1422 (monthly Fibo Kijun + maximum June extreme). The result of interaction with this resistance zone will determine the possibilities and options for the development of the situation in the future.
Yesterday, the bulls managed to stay above the weekly long-term trend in the lower halves and they continued to rise using the strength of support. Today, a new high is indicated. At the moment, there is a slowdown at the first resistance of the classic Pivot levels R1 (1.1367), the following upward orientations are now located at R2 (1.1404) and R3 (1.1457). In the case of a downward correction, the key support levels of H1 are waiting for the pair in the region of 1.1314 (central Pivot level) and 1.1284 (weekly long-term trend). A consolidation below will change the current balance of forces and will further strengthen the bears.
GBP / USD
At the moment, players to increase are testing target targets for the breakdown of the Ichimoku cloud (1.2615-56) on H4. The next upward guideline is 1.2711-35 (weekly Senkou Span B + monthly Fibo Kijun), then 1.2812 (maximum June extreme) and 1.2940 (upper border of the weekly cloud) will have a value. If the players on the increase, having fulfilled the goal of H4, take a pause, then it will be of great importance for the opponent to consolidate under the levels passed the day before 1.2598 (daily Fibo Kijun) and 1.2520 - 30 (daily Kijun + weekly Fibo Kijun).
On the lower time frames, all analyzed technical tools support players to increase. There is a bullish trend in its active phase. The classic Pivot levels are the rising benchmarks and resistances within the day 1.2649 - 1.2693 - 1.2763. A slowdown and correction development will contribute to the return of attention to the supports. The key supports for the lower time intervals are currently located at 1.2579 (central Pivot level) and 1.2516 (weekly long-term trend). Moreover, the weekly long-term trend (1.2516) today has a good gain from the higher halves, so consolidation below will change the current distribution of forces not only on H1.
Ichimoku Kinko Hyo (9.26.52), Pivot Points (classic), Moving Average (120)
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