EUR/USD

Over the past day, the price closed below the tested resistance levels of 1.0398-1.0385. Today, there is another attempt to break into the daily Ichimoku cloud. A confirmed consolidation within the cloud would allow bullish traders to explore new opportunities, with targets at the upper boundary of the daily cloud (1.0581), the weekly Fibonacci Kijun (1.0575), and the monthly levels (1.0598 – 1.0624).

If the bulls are unable to secure this breakout, the market may return to the main support area in this section, which is the weekly short-term trend at 1.0357. Further declines could find support at the daily levels of 1.0328 – 1.0315. Deeper downside targets for bearish traders remain at the historical threshold of 1.0200 and the minimum extreme at 1.0179.

H4 – H1

Currently, bulls have the upper hand on lower timeframes. Yesterday's downward correction did not breach key levels, allowing buyers to maintain their advantage. Today, the intraday upside targets include classic Pivot resistance levels at 1.0435, 1.0489, and 1.0547. Bulls may also aim for a breakout above the H4 Ichimoku cloud, which is positioned between 1.0502 and 1.0534.

For a shift in market balance, sellers need to push the price below the key support levels at 1.0377 and 1.0351 (the central Pivot level and the weekly long-term trend) and establish a firm hold below these levels. Intraday bearish targets are set at the classic Pivot support levels of 1.0323, 1.0265, and 1.0211.

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GBP/USD

Yesterday, the currency pair remained within the central attraction zone, which is defined by the levels of 1.2377, 1.2399, 1.2412, and 1.2425. These levels have been confirmed by multiple timeframes. Consequently, the overall outlook and expectations have not changed.

The boundaries that, when broken, will enable us to consider the development of a directional movement and the emergence of new opportunities currently remain unchanged. For bullish trends to regain momentum, it is crucial for them to return to the daily and weekly cloud at 1.2540. On the other hand, bearish interests are centered around the monthly cloud at 1.2301.

H4 – H1

Currently, bulls have the advantage on lower timeframes. They have already surpassed yesterday's high and are approaching the first Pivot resistance level at 1.2489 (R1). The next intraday upside targets are R2 at 1.2539 and R3 at 1.2595, based on the classic Pivot scale.

If the pair experiences a corrective pullback, it will meet key support levels between 1.2433 and 1.2416, which include the central daily Pivot and the weekly long-term trend. A confirmed breakdown below these levels could shift the balance of power.

Should bearish momentum continue, the focus will shift to the classic Pivot support levels at 1.2383, 1.2327, and 1.2277.

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Technical Analysis Components:

• Higher Timeframes: Ichimoku Kinko Hyo (9.26.52) and Fibonacci Kijun levels
• H1: Classic Pivot Points and 120-period Moving Average (weekly long-term trend)