Forex Analysis & Reviews: EUR/USD and GBP/USD: Technical analysis on April 3

Higher Timeframes At the close of the previous session, the attraction of the weekly support (1.2577) managed to halt the decline and return the market to its influence zone. Therefore, if bearish players want to continue the decline, the targets of which were detailed in yesterday's review, they first need to overcome the attraction and influence of the weekly support at 1.2577. However, if bullish players continue restoring their positions now, the market will first encounter resistance from the daily short-term trend (1.2606), and then the daily cloud may come into play (1.2637 - 1.2671).

H4 - H1 On lower timeframes, the pair continues to work within a correction zone. Currently, the central pivot point of the day (1.2563) is being used as support. The next supports during intraday decline will be the classic pivot points S1 (1.2548) - S2 (1.2524) - S3 (1.2509). A change in intraday priorities may occur upon the breakthrough and reversal of the weekly long-term trend (1.2601). To further strengthen bullish sentiments, the resistance levels of classic pivot points located above the trend will be crucial, with today's R3 (1.2626) being the reference point.

Analysis are provided by InstaForex.

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