A strong bearish movement led GBPUSD below the daily pivot.

Posted On 16 Dec 2015

Tag: GBP

	EURUSD	H4
Resistance	1.1022	1.1117	1.1176
Support	1.0867	1.0808	1.0712
Primary Scenario	EURUSD is oscillating around the daily pivot point at 1.0963. A plunge of the market will lead the exchange rate to hit the support level at 1.0867 and even lower at 1.0808.
Alternative Scenario	A successful attempt to exceed the daily pivot will lift the currency pair to retest the hurdle at 1.1022.

	GBPUSD	H4
Resistance	1.5135	1.5236	1.5289
Support	1.4980	1.4927	1.4825
Primary Scenario	A strong bearish movement led GBPUSD below the daily pivot (1.5082). If the pair manages to extend its momentum, the next support is seen at 1.4980 and further down to 1.4927.
Alternative Scenario	On the other hand, a higher thrust of the pair will trigger the market to surpass the daily pivot, with immediate target the resistance at 1.5135.

	USDCHF	H4
Resistance	0.9956	1.0003	1.0083
Support	0.9830	0.9750	0.9703
Primary Scenario	USDCHF has finally managed to penetrate the daily pivot point (0.9877). Further increase of the rate will generate strength for the market to target the resistance level at 0.9956 and then higher at 1.0003.
Alternative Scenario	A comeback of the currency pair below the daily pivot will open the way down to 0.9830.

	USDJPY	H4
Resistance	121.94	122.36	122.87
Support	121.62	121.27	120.92
Primary Scenario	The pair is now testing the key resistance at 121.94. A fruitless attempt to break this level will push prices to find support at 121.62 and even lower at 121.27.
Alternative Scenario	Alternatively, a successful penetration of the hurdle at 121.94 will lead the pair towards 122.36.

	AUDUSD	H4
Resistance	0.7260	0.7332	0.7382
Support	0.7137	0.7087	0.7014
Primary Scenario	AUDUSD is trading slightly below the daily pivot (0.7210). A tumble of the exchange rate will push the pair underway towards the support level at 0.7137 and further down to 0.7087.
Alternative Scenario.	An upward wave will fuel the pair to surpass the daily pivot, targeting the resistance at 0.7260.

The post A strong bearish movement led GBPUSD below the daily pivot. appeared first on FXTM Blog.

Source:: A strong bearish movement led GBPUSD below the daily pivot.

About the Author

ForexTime Ltd (FXTM) is an award winning international online forex broker regulated by CySEC. Our mission is to maximize the value our clients derive from their most precious commodity, "Time"! By offering advanced and innovative services, optimal customer care and perpetual devotion to our clients, we will ensure that their individual needs are always met as markets continue to evolve over time. Visit ForexTime to learn more www.forextime.com [space height="20"] [social type="facebook"]https://www.facebook.com/ForexTime[/social] [social type="twitter"]https://twitter.com/ItsForexTime[/social] [social type="google-plus"]https://plus.google.com/u/0/+ForextimeFXTM/posts[/social] [social type="youtube"]https://www.youtube.com/user/ItsForexTime[/social]