empty
25.10.2021 01:00 PM
Technical analysis recommendations of EUR/USD and GBP/USD on October 25

EUR/USD

This image is no longer relevant

The slowdown below the historical resistance of 1.1664 remains. The final level of the Ichimoku daily dead cross (1.1667) has fallen into this area today. As a result, the breakdown of resistance will eliminate the bearish cross and help the bulls to strengthen their positions. The next upward targets are still at 1.1695 (monthly Fibo Kijun) and 1.1716 (weekly Tenkan). But in the case of bearish activity, the nearest support level of 1.1602 (historical level + daily levels) will be considered. The next interests can be directed to interacting with the level of 1.1558 (lower border of the weekly cloud) and 1.1516 - 1.1494 (monthly levels).

This image is no longer relevant

The pair continues to remain in the zone of the downward correction in the smaller timeframes. For a long time, the key support levels are being tested. They are joining forces in the area of 1.1640-37 today. A breakdown, consolidation below, and a reversal of moving averages will change the current balance of power in favor of the bears. The support for the classic pivot levels 1.1625 - 1.1605 - 1.1590 will serve as the intraday downward pivot points.

As for the bulls, the main task is to restore the upward trend (1.1669). The next upward pivot points can be 1.1675 (R2) and 1.1695 (R3), these resistances are being strengthened from the higher timeframes.

GBP/USD

This image is no longer relevant

The bulls could not hold their positions below the encountered resistance level of 1.3830 (monthly short-term trend + weekly medium-term trend) during last week's closing. Currently, the attraction zone continues to provide a daily cloud (1.3777). The nearest support levels are set sequentially with some distance from each other – 1.3731 - 1.3695 - 1.3661 (daily and weekly levels).

This image is no longer relevant

There is a struggle to reach the key levels in the smaller timeframes, which are uniting in the area of 1.3766-84 (central pivot level + weekly long-term trend). The continuation of the decline after the update of the low (1.3735) will open the way to the supports of the classic pivot levels (1.3719 - 1.3687 - 1.3640). On the contrary, a consolidation above the range of 1.3766-84 will set the task to recover the upward trend (1.3834). The resistances of the classic pivot levels 1.3845 and 1.3877 can be the additional upward pivot points within the day.

***

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.

Evangelos Poulakis,
Analytical expert of InstaForex
© 2007-2025
Select timeframe
5
min
15
min
30
min
1
hour
4
hours
1
day
1
week
Earn on cryptocurrency rate changes with InstaForex
Download MetaTrader 4 and open your first trade
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST

Recommended Stories

Technical Analysis of Intraday Price Movement of USD/JPY Main Currency Pairs, Thursday May 08, 2025.

On the 4-hour chart of the main currency pair USD/JPY, although it appears to be strengthening, is indicated by the movement of the USD/JPY price moving above the EMA (21)

Arief Makmur 09:48 2025-05-08 UTC+2

Technical Analysis of Intraday Price Movement of Nasdaq 100 Index, Thursday May 08, 2025.

With the appearance of Divergence between the Nasdaq 100 index price movement with the Stochastic Oscillator indicator and its price movement moving above the SMA (50) which has an upward

Arief Makmur 09:48 2025-05-08 UTC+2

EUR/USD Forecast for May 8, 2025

As expected, the Federal Reserve left its monetary policy unchanged following yesterday's meeting. Jerome Powell only slightly reinforced the market's expectations of rising inflation. Markets still anticipate the first rate

Laurie Bailey 05:09 2025-05-08 UTC+2

GBP/USD Forecast for May 8, 2025

At today's meeting, the Bank of England is expected to lower the key interest rate from 4.50% to 4.25%. Business media claim the market has already priced in this event

Laurie Bailey 05:09 2025-05-08 UTC+2

USD/JPY Forecast for May 8, 2025

USD/JPY The daily chart shows that the price is reversing downward from the green price channel lines. The first such reversal occurred on May 2, marked by a red arrow

Laurie Bailey 05:09 2025-05-08 UTC+2

GBP/USD. Analysis and Forecast

Today, the GBP/USD pair is pulling back from yesterday's bullish impulse. The retracement is supported by the modest strength of the U.S. dollar. From a technical standpoint, the pair

Irina Yanina 19:28 2025-05-07 UTC+2

Trading Signals for GOLD (XAU/USD) for May 7-9, 2025: buy above $3,360 (21 SMA - 8/8 Murray)

Early in the American session, gold is trading around 3,382, rebounding after reaching a low of 3,359 during the opening session. A strong technical rebound suggests a rally

Dimitrios Zappas 17:49 2025-05-07 UTC+2

Forex forecast 07/05/2025: EUR/USD, USDX, SP500, Gold and Bitcoin

Useful links: My other articles are available in this section InstaForex course for beginners Popular Analytics Open trading account Important: The begginers in forex trading need to be very careful

Sebastian Seliga 11:04 2025-05-07 UTC+2

EUR/USD – May 7th: Bulls Are Reversing the Trend

On Tuesday, the EUR/USD pair reversed in favor of the euro and rose to the resistance zone of 1.1374–1.1383. A rebound from this zone triggered a decline in favor

Samir Klishi 10:56 2025-05-07 UTC+2

GBP/USD – May 7th: Global Uncertainty and the FOMC

On the hourly chart, the GBP/USD pair on Tuesday reversed in favor of the British pound and closed above the resistance zone of 1.3344–1.3357. Therefore, a rebound from this zone

Samir Klishi 10:52 2025-05-07 UTC+2
Can't speak right now?
Ask your question in the chat.
Widget callback
 

Dear visitor,

Your IP address shows that you are currently located in the USA. If you are a resident of the United States, you are prohibited from using the services of InstaFintech Group including online trading, online transfers, deposit/withdrawal of funds, etc.

If you think you are seeing this message by mistake and your location is not the US, kindly proceed to the website. Otherwise, you must leave the website in order to comply with government restrictions.

Why does your IP address show your location as the USA?

  • - you are using a VPN provided by a hosting company based in the United States;
  • - your IP does not have proper WHOIS records;
  • - an error occurred in the WHOIS geolocation database.

Please confirm whether you are a US resident or not by clicking the relevant button below. If you choose the wrong option, being a US resident, you will not be able to open an account with InstaForex anyway.

We are sorry for any inconvenience caused by this message.