empty
13.09.2023 11:40 AM
EUR/USD and GBP/USD: Technical analysis for September 13

EUR/USD

This image is no longer relevant

Higher Timeframes

The attraction and influence of the monthly medium-term trend (1.0722) continue to impact the current situation. The upward correction is moving slowly but still towards its first target level—the daily short-term trend, which has now descended to 1.0785. If the bulls manage to seize control of the daily Tenkan, then the most significant area will be at 1.0875–79 (daily medium-term trend + monthly short-term trend + weekly Fibonacci Kijun), with interim resistance possibly at 1.0830 (daily Fibonacci Kijun). For the bears, their main task remains the same—to overcome the attraction at 1.0722 and firmly establish themselves below the correction low (1.0687).

This image is no longer relevant

H4 - H1

On the lower timeframes, the bulls are currently maintaining the advantage, continuing to work above key levels, which are now located at the 1.0725 - 1.0743 range (weekly long-term trend + central pivot point). The development of the upward movement will lead to the testing of intraday resistance levels of classic pivot points (1.0780 - 1.0806 - 1.0843). When priorities shift, attention will focus on support levels of classic pivot points (1.0717 - 1.0680 - 1.0654).

***

GBP/USD

This image is no longer relevant

Higher Timeframes

The attraction of the monthly short-term trend (1.2477) is holding back the situation's development, resulting in consolidation with a slight corrective rise. At the same time, strong resistances from different timeframes are guarding this correction stage at 1.2537 (weekly Fibonacci Kijun) - 1.2582–89 (monthly Fibonacci Kijun + daily short-term trend). If the bears manage to break free from the influence of the monthly Tenkan (1.2477), their reward could be achieving the target of breaking the daily Ichimoku cloud (1.2311 - 1.2394).

This image is no longer relevant

H4 - H1

Over the past few days, the weekly long-term trend has withstood all the attacks and pressure from the bullish side, defending the bearish dominance in the situation. Today, the weekly long-term trend has joined forces with the central pivot point of the day at 1.2491. A break above could change the current balance of power in favor of the bulls, and intraday targets for further ascent will be at 1.2523 - 1.2562 - 1.2594 (resistances of classic pivot points). Failure by the bulls and the opponent's activity could lead to further strengthening of bearish sentiment, with subsequent reference points for decline in this case noted at 1.2420 - 1.2381 (supports of classic pivot points).

***

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

Forex forecast 22/04/2025: EUR/USD, GBP/USD, USD/JPY 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 10:08 2025-04-22 UTC+2

Technical Analysis of Intraday Price Movement of GBP/CHF Cross Currency Pairs, Tuesday April 22, 2025.

If we look at the 4-hour chart of the GBP/CHF cross currency pair, there are several interesting facts. First, the appearance of a Triangle pattern followed by the movement

Arief Makmur 06:58 2025-04-22 UTC+2

Technical Analysis of Intraday Price Movement of AUD/CAD Cross Currency Pairs, Tuesday April 22, 2025.

With the price movement of the AUD/CAD cross currency pair moving above the WMA (21) which has an upward slopes and the appearance of Convergence between the price movement

Arief Makmur 06:58 2025-04-22 UTC+2

Trading Signals for GOLD (XAU/USD) for April 21-25, 2025: sell below $3,422 (overbought - 8/8 Murray)

The eagle indicator has reached overbought levels. However, the metal could still reach the high around 8/8 Murray, which represents a strong barrier for gold. Below this area, we could

Dimitrios Zappas 17:23 2025-04-21 UTC+2

Technical Analysis of Intraday Price Movement EUR/GBP Cross Currency Pairs, Monday April 21, 2025

From what is seen on the 4-hour chart, the EUR/GBP cross currency pair appears to be moving above the EMA (100), which indicates that Buyers dominate the currency pair

Arief Makmur 04:19 2025-04-21 UTC+2

Technical Analysis of Intraday Price Movement USD/JPY Main Currency Pairs, Monday April 21, 2025.

With the appearance of Convergence between the price movement of the main currency pair USD/JPY with the Stochastic Oscillator indicator and the position of the EMA (100) which is above

Arief Makmur 04:19 2025-04-21 UTC+2

Forex forecast 18/04/2025: EUR/USD, GBP/USD, 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 10:18 2025-04-18 UTC+2

Gold: Ongoing Uncertainty Continues to Support Gold Prices

Gold prices continue to receive support amid the fog of uncertainty surrounding the future course of the tariff wars initiated by Donald Trump. The price of gold has been climbing

Pati Gani 11:49 2025-04-17 UTC+2

EUR/USD Forecast for April 17, 2025

On Wednesday, the euro once again moved into the target range of 1.1385–1.1420. However, recent price behavior suggests that the 1.1385 level is now redundant — we're seeing a consolidation

Laurie Bailey 11:07 2025-04-17 UTC+2

GBP/USD Forecast for April 17, 2025

Yesterday, the UK released inflation data for March. Core CPI declined from 3.0% y/y to 2.8% y/y, and headline CPI dropped from 2.8% y/y to 2.6% y/y, below the forecast

Laurie Bailey 11:02 2025-04-17 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.