Stay 
Trading Conditions
Products
Tools
EUR/USD
Higher timeframes
Bulls managed to remain optimistic at the close of May. As a result, the month went down in history in the form of a rebound from the fulfilled monthly target for the breakdown of the Ichimoku cloud. During the execution of the rebound, resistance of weekly levels were met—1.0702 (short-term trend) and 1.0787 (Fibo Kijun)–now the situation is developing in their zone of attraction and influence. The breakdown will open up new targets for bulls. The next resistance is the daily cloud, reinforced by the weekly medium-term trend (1.0922).
H4 - H1
At the moment, there is a struggle for the key levels on the lower timeframes, which today are connected in the area of 1.0725–30 (central pivot point of the day + weekly long-term trend). Working above the levels will favor bulls, while working below will strengthen bearish sentiment. Reference points for movement within the day are the classic pivot points. Their resistance today can be noted at 1.0782 – 1.0830 – 1.0882, and support is now at 1.0682 – 1.0630 – 1.0582.
***
GBP/USD
Higher timeframes
As a result, May became the owner of a long lower shadow. Therefore, bears are unlikely to be able to easily return to the continuation of the downward trend now. However, the fact that the strong resistance encountered remained unconquered in May weakens the bullish outlook. The pair continues to remain in thought under the weekly short-term trend (1.2660) and the lower boundary of the monthly cloud (1.2678). Reliable consolidation above can contribute to new bullish activity in the future. The levels of the daily Ichimoku golden cross (1.2551 – 1.2471 – 1.2410 – 1.2350) are now acting as possible supports.
H4 - H1
The meeting of strong resistance levels of the higher timeframes and working out the target for the breakdown of the H4 cloud provoke the development of a corrective decline. The pair went down to the key levels of lower timeframes (central pivot point + weekly long-term trend), which combined their efforts today at the line of 1.2605, and slowed down. The loss of levels will strengthen bearish sentiment and develop a full-fledged decline, on the scale of higher timeframes. Among the additional reference points for intraday work today we can note the support (1.2555 – 1.2512 – 1.2463) and the resistance of the classic pivot points (1.2647 – 1.2696 – 1.2739).
***
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.
