empty
05.03.2025 08:11 AM
EUR/USD and GBP/USD March 5 – Technical Analysis

EUR/USD

This image is no longer relevant

The start of the new week gives bullish traders a reason to remain optimistic and effective. They have not only exited the daily Ichimoku cloud, creating a breakout target, but have also quickly reached the initial target level of 1.0619. In this context, the next bullish targets can be identified at 1.0668, 1.0698, and 1.0727. Achieving these levels would fully realize the daily breakout target while simultaneously testing the key resistances of the monthly Ichimoku cross and the medium-term weekly trend.

Yesterday, on the way to reaching the target level of 1.0619, the pair surpassed several strong resistance levels at 1.0575, 1.0588, and 1.0598, thereby entering the monthly cloud. Today, these breached levels may serve as support on lower timeframes, helping the bulls maintain their gains.

This image is no longer relevant

On the lower timeframes, the bulls currently hold the main advantage, as we observe an uptrend formation. Intraday bullish targets today are set at 1.0678, 1.0730, and 1.0833 (the resistances of the classic Pivot levels). A downward correction could jeopardize the testing of key levels at 1.0575 (the central daily Pivot level) and 1.0468 (the weekly long-term trend), with an intermediate support at S1 positioned at 1.0523. A breakout and subsequent trend reversal could significantly shift the balance of power. Further strengthening of bearish sentiment would likely unfold through the classic Pivot level supports at 1.0420 and 1.0368.

***

GBP/USD

This image is no longer relevant

In the first two days of the new week, the bulls have achieved what they were unable to accomplish in the previous two weeks. The pair is currently testing the resistance levels of the monthly Ichimoku cross at 1.2765–1.2807 and the medium-term weekly trend at 1.2766. If these levels are broken, the next targets will include a breakout from the weekly cloud at 1.2873, the elimination of the weekly Ichimoku cross at 1.2923, and reaching the daily breakout target of 1.2952–1.3047. However, if the bulls fail and the upward movement is halted, the pair could return to previously crossed levels around 1.2650–1.2618, with the first support encountered at the daily short-term trend of 1.2678.

This image is no longer relevant

Currently, the bulls hold a significant advantage on the lower timeframes. To continue the uptrend, intraday targets are set at the classic Pivot level resistances of 1.2833, 1.2876, and 1.2953. If the bears manage to take control, their key support levels will be at 1.2756 (the central daily Pivot level) and 1.2659 (the weekly long-term trend). A breakout and trend reversal could shift the balance of power in favor of the bears, leading to a further strengthening of bearish sentiment. Additional intraday targets for bearish traders include the classic Pivot level supports at 1.2713, 1.2636, and 1.2593.

***

Technical Analysis Components:
  • Higher Timeframes: Ichimoku Kinko Hyo (9.26.52) and Fibonacci Kijun levels
  • H1: Classic Pivot Points and 120-period Moving Average (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

Trading Signals for GOLD (XAU/USD) for April 4-7, 2025: sell below $3,120 or buy above $3,025 (21 SMA - rebound)

If the gold price breaks the uptrend channel again and consolidates below 3,090 in the coming hours, we could expect it to continue falling, and the price could reach 3,070

Dimitrios Zappas 17:37 2025-04-04 UTC+2

Forex forecast 04/04/2025: EUR/USD, USD/JPY, 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 14:17 2025-04-04 UTC+2

EUR/USD. April 4th. The Trade Conflict Is Only Gaining Momentum

On Thursday, the EUR/USD pair continued its upward movement. At the moment, the decline in the U.S. dollar has paused, but the market could "explode" again at any moment

Samir Klishi 10:32 2025-04-04 UTC+2

GBP/USD. April 4th. What Can the Dollar Count On?

On the hourly chart, the GBP/USD pair once again soared on Thursday, breaking through several levels. Consolidation below the 1.3151 level allows for expectations of a slight decline toward

Samir Klishi 10:21 2025-04-04 UTC+2

EUR/USD and GBP/USD April 4 – Technical Analysis

After several attempts and three weeks of consolidation, the bulls finally launched a breakout, allowing them to close yesterday well above the resistance levels of the Ichimoku Cloud

Evangelos Poulakis 09:38 2025-04-04 UTC+2

EUR/USD Forecast for April 4, 2025

On Thursday, investors flight from risk, and the dollar reached its peak: the S&P 500 dropped by 4.84%, the dollar index by 1.64%, oil by 6.90%, gold by 1.00%, copper

Laurie Bailey 05:34 2025-04-04 UTC+2

GBP/USD Forecast for April 4, 2025

By the end of yesterday, the British pound had risen by 92 pips, with a peak gain of 204 pips. The price reached the target range of 1.3184–1.3208 before retreating

Laurie Bailey 05:34 2025-04-04 UTC+2

AUD/USD Forecast for April 4, 2025

The Australian dollar reacted fairly calmly to Trump's tariffs, ending the day within the broad consolidation range of 0.6273–0.6351. However, Friday began with a decisive decline, and at the moment

Laurie Bailey 05:34 2025-04-04 UTC+2

Trading Signals for GOLD (XAU/USD) for April 3-5, 2025: buy above $3,055 (21 SMA - rebound)

If the gold price returns above the uptrend channel and consolidates above 3,075, the outlook could be bullish, and we could look for buying opportunities with a target at 3,125

Dimitrios Zappas 16:43 2025-04-03 UTC+2

EUR/USD – April 3rd: The Dollar Suffers Another Collapse

On Wednesday, the EUR/USD pair surged sharply. This movement can hardly be called a mere rise. When it comes to the U.S. dollar, it was another collapse—one of many seen

Samir Klishi 11:25 2025-04-03 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.