empty
26.05.2023 12:22 PM
EUR/USD and GBP/USD: Technical analysis for May 26

EUR/USD

This image is no longer relevant

Higher timeframes

Yesterday, the pair continued to decline but failed to reach the support level at 1.0693. As a result, the conclusions and expectations voiced earlier remain relevant. For bears, the nearest level of importance is 1.0693 (weekly medium-term trend). For bulls, a breakout of the daily and weekly resistances around 1.0787 - 1.0796 - 1.0809 will be significant.

This image is no longer relevant

H4 - H1

The decline is again halted. On lower timeframes, a corrective upward movement is currently developing. The pair has consolidated above the central pivot point (1.0730). Further deceleration is possible around the first resistance of the classic pivot points (1.0752), but the key value in this direction is the weekly long-term trend (1.0776). Consolidation above and a reversal of the momentum could break the existing bearish trend and change the balance of power. In case the correction is completed and the decline continues, the intraday supports today are located at 1.0703 - 1.0681 - 1.0654 (classic pivot points).

***

GBP/USD

This image is no longer relevant

Higher timeframes

Yesterday, the pair fell to the area of the monthly medium-term trend (1.2302). It should be noted that on this part of the market, several levels are gathered in close proximity to each other, such as 1.2365 - 1.2344 - 1.2302 - 1.2240, etc. Therefore, at any moment, one can expect the formation of deceleration, consolidation, or a rebound.

This image is no longer relevant

H4 - H1

On lower timeframes, the main advantage in the current situation belongs to the bears. Nevertheless, there is a developing corrective upward movement, and bulls have surpassed the central pivot point (1.2337) and continue the ascent. Their main reference point is the weekly long-term trend (1.2398). Consolidation above this level will change the current balance of power. Additional reference points within the day can be the classic pivot points at 1.2366 - 1.2416 - 1.2445 (resistances) and 1.2287 - 1.2258 - 1.2208 (supports).

The technical analysis of the situation uses:

Higher timeframes - Ichimoku Kinko Hyo (9.26.52) + Fibo Kijun levels

Lower timeframes - H1 - Pivot Points (classic) + Moving Average 120 (weekly long-term trend)

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

Forecast for USD/JPY – April 8, 2025

USD/JPY After reaching the target range of 145.08/91, the price corrected with increased volatility down to the balance line on the daily timeframe and began the current day with

Laurie Bailey 05:03 2025-04-08 UTC+2

Forecast for Natural Gas – April 8, 2025

Natural Gas (NG) Last week and the beginning of this week, the natural gas quote did not break above the resistance at 4.200, which is reinforced by the MACD line

Laurie Bailey 05:03 2025-04-08 UTC+2

Forecast for EUR/USD on April 7, 2025

On Friday, it's difficult to define what exactly the EUR/USD pair accomplished. The decline is undeniable, signaling a strengthening of the U.S. dollar. But who can confidently say the dollar

Samir Klishi 19:13 2025-04-07 UTC+2

Forecast for GBP/USD on April 7, 2025

On the hourly chart, the GBP/USD pair reversed in favor of the U.S. dollar on Friday and fell from the 1.3151 level to 1.2865 — a 300-point move

Samir Klishi 19:08 2025-04-07 UTC+2

Trading Signals for EUR/USD for April 7-9, 2025: sell below 1.0986 (21 SMA - 6/8 Murray)

If the euro consolidates above 1.0986, we could expect a continuation of the upward movement, and EUR/USD could reach the 7/8 Murray level at 1.1108 and even surpass its high

Dimitrios Zappas 17:44 2025-04-07 UTC+2

Trading Signals for GOLD (XAU/USD) for April 7-9, 2025: buy above $2,985 (200 EMA - 6/8 Murray)

Early in the American session, gold is trading around 3,009.75, undergoing a technical correction. The metal is likely to continue falling until reaching the 200 EMA located at 2,985

Dimitrios Zappas 17:29 2025-04-07 UTC+2

Forex forecast 07/04/2025: EUR/USD, USD/JPY, GBP/USD, SP500, USDX, 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 10:37 2025-04-07 UTC+2

EUR/USD Forecast for April 7, 2025

Last Friday, global markets continued to decline — albeit unevenly: the S&P 500 fell by 5.97%, oil by 7.41%, commodity currencies lost around 2% on average, and the yield

Laurie Bailey 05:20 2025-04-07 UTC+2

GBP/USD Forecast for April 7, 2025

On Friday, the British pound collapsed by an impressive 200 pips. This morning, the price tested the target range of 1.2816/47, which it had slightly missed on Friday

Laurie Bailey 05:20 2025-04-07 UTC+2

AUD/USD Forecast for April 7, 2025

AUD/USD This morning, the Australian dollar reached the target support level at 0.5943. The day opened with a downward gap, which remains unfilled for now. The Marlin oscillator is beginning

Laurie Bailey 05:20 2025-04-07 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.