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EUR/USD
The state of uncertainty still prevails in the market. EUR/USD is holding near the support of 1.0960. At the moment, traders are testing daily resistance levels in the area of 1.1029-32. Consolidation of the price will limit the pair's movements within this range. Today is the end of the week, so it is possible that the pair will close this weekly session in a state of uncertainty and with no clear results. The main task for bears is to break through the weekly target located at the support level, which corresponds to the Ichimoku Cloud indicator (1.0960 - 1.0806). In case of an uptrend, bulls will focus on the level of 1.1099, which represents the daily medium-term trend, and the area of 1.1151-68 (weekly levels + closing level of the daily cross).
On lower time frames, bulls are trying to take control over the market. At the moment, buyers are pushing the price above the key levels of 1.0993 – 1.1017 (central pivot level + weekly long-term trend). The breakout of the nearest pivot point (1.1041) and the overcoming of the next one (1.1067) will allow buyers to head for the targets on higher time frames (1.1099 – 1.1151-68). If the price returns under the area of 1.1017 – 1.0993, then the pair may decline on the intraday chart and find support in the range of 1.0971 – 1.0945 – 1.0923 (classic pivot levels).
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GBP/USD
Yesterday, the pair was stuck in the accumulation zone at 1.3164 formed by support levels on higher time frames. The situation has not changed much. At this stage, bulls need to break through the resistance area of 1.3323 (weekly levels + daily medium-term trend). Meanwhile, the main task for bears is to resume the downtrend by pushing the price below 1.3000.
On lower time frames, the situation is still uncertain. The pound is hovering near the key levels of 1.3192-83 (central pivot level + weekly long-term trend). The resistance located at the classic pivot levels of 1.3240 and 1.3247, as well as the support lines at 1.3153 - 1.3126 - 1.3096, may serve as additional targets for today.
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Technical analysis is based on:
On higher time frames – Ichimoku Kinko Hyo (9.26.52) + Fibo Kijun levels
On H1 - Pivot Points (classic) + Moving Average 120 (weekly long-term trend)
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