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Pivot

EUR/USD Short-Term Rebound!• The weekly S1 (0.9880) provided support for the EUR/USD, which has since attempted to close the gap. It has encountered resistance at 0.9935 and currently appears to be unsure. It might shift sideways in the near future. • Price declines are still possible as long as the pair remains below the descending pitchfork's Resistance Trendline, signaling a bearish bias. A new sell-off could be announced if the gap is not closed. Only a valid breakout above the Resistance Trendline could signal a larger growth. Good Luck Traders!
Short
by DredDine
GBP/USD Challenges A Key Support!The GBP/USD pair retested the downtrend line and has since fallen under the previous low of 1.1624. It will be interesting to see if it can validate its breakdown. After today's sell-off, a brief rebound is not entirely ruled out. GBP/USD may continue to move downward as long as it remains below the downtrend line. Technically speaking, the weekly S2 (1.1600) also serves as a downside barrier. The GBP/USD pair could only begin to gain new bullish momentum if it managed to maintain itself above this downside barrier and successfully break through the downtrend line.
Short
by DredDine