EUR/USD

The pair left the Ichimoku daily cloud and continued to increase. Today, it encountered the resistance level of 1.2150 (historical level), so the euro will be busy forming the result of interaction in the near future. A breakdown and consolidation above this level will open the bullis prospects to the high extreme (1.2243) in February. Meanwhile, the formation of the rebound will raise the question of the implementation of the daily downward correction. Today, its nearest pivot points can be noted in the area of 1.2064 - 1.2046 (weekly Fibo Kijun + daily Tenkan).

Bulls have the main advantage in the smaller time frames, which is confirmed by all the analyzed technical elements. The resistances of the classic pivot levels act as upward pivots and they are located at 1.2156 - 1.2185 - 1.2235. Currently, there is a deceleration and a corrective decline. The key H1 levels form the most significant support zone of 1.2106 (central pivot level) - 1.2075 (weekly long-term trend). The breakdown of this zone and a consolidation below it will change the current balance of power in the lower period.

At the same time, the pair will rest against the support (1.2064-1.2046) of the higher time frames. The breakdown of these levels will affect the distribution of forces in the upper period, which will require a new assessment of the situation.

GBP/USD

Bullish traders continue to strive to return to the previously indicated high of 1.4002 (upper limit of the monthly Ichimoku cloud). The month of April will close soon, thus, exceeding the cloud and closing in the bullish zone relative to the cloud may sharply strengthen the bullish mood. In this case, the nearest upward targets will be the daily target for the breakdown of the Ichimoku cloud and the February high at 1.4240. Today, support levels are set at 1.3908 - 1.3895 (daily Tenkan + daily cloud) and 1.3842-39 (daily Kijun + weekly Tenkan).

On the hourly time frame, the bulls are in favor. As a result, they managed to test the first resistance of the classic pivot levels (1.3970). We can note the next resistance levels at 1.4005 and 1.4060. In case of failure and downward correction, support levels can be considered at 1.3915 (central pivot level) and 1.3890 (weekly long-term trend). A consolidation below which will change the current balance of forces, which will make the supports of the classic pivot levels (1.3880 - 1.3825 - 1.3790) relevant again.

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Ichimoku Kinko Hyo (9.26.52) and Kijun-sen levels in the higher time frames, as well as classic Pivot Points and Moving Average (120) on the H1 chart are used in the technical analysis of the trading instruments.