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The EUR/USD pair is focused on the downward trend, where market participants managed to break through the local low on September 24 and firmly consolidated below the variable pivot point of 1.1650.
A sequential change in direction from an upward to a sideways direction, then to a downward one, can lead to a new trend. In this case, a downward trend.
Based on the obtained data on the quote's location, we can assume that if the local low (1.1612) on September 25 is updated, the quote will resume the formation of a new trend, where the level of 1.1550 will become the variable pivot.
On the other hand, the GBP/USD pair is focused on the variable price fluctuations within the range of 1.2674/1.2770, with local crosses to the upper border. In fact, market participants point to the prevailing downward interest, since if the pound weakened by more than 800 points, there would be a correction in view of oversold conditions, but we have a variable stagnation.
A consistent change in the price trend also occurs in the pound, so we should not rule out a further decline.
In order to resume the downward interest relative to the current stagnation, the quote needs to be consolidated below 1.2670, which will lead towards 1.2620-1.2550.
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