GBPUSD bloodied into a multi-year low.

EURUSD Technical Analysis
EURUSD H4
Resistance 1.1050 1.1082 1.1113
Support 1.0987 1.0957 1.0925
Primary Scenario EURUSD is ranging around the daily pivot point at 1.1020. A decisive movement downwards will lead the market to violate the support level at 1.0987, pushing the pair to continue its bearish sentiment. The next support is seen at 1.0957.
Alternative Scenario A successful penetration above the daily pivot will fuel the pair to retest the hurdle at 1.1050.

EURUSDH4

GBPUSD Technical Analysis GBPUSD H4
Resistance 1.4114 1.4209 1.4263
Support 1.3966 1.3912 1.3817
Primary Scenario The pair bloodied into a multi-year low. If GBPUSD manages to extend its downtrend, it will drop below the support at 1.3966, targeting the forthcoming levels at 1.3912 and 1.3817.
Alternative Scenario On the other hand, a correction course of the exchange rate would lift the market towards the daily pivot (1.4061) and even higher at 1.4114. RSI supports this outlook.

GBPUSDH4

USDCHF Technical Analysis USDCHF H4
Resistance 0.9975 1.0041 1.0081
Support 0.9870 0.9829 0.9764
Primary Scenario USDCHF is trading slightly below the daily pivot at 0.9935. A persistent move below this level will most likely push prices to retest the barrier at 0.9870 and a break back below this level will open the way down to 0.9829.
Alternative Scenario A higher thrust of the rate above the daily pivot will accelerate the pair to hit the resistance level at 0.9975.

USDCHFH4

USDJPY Technical Analysis USDJPY H4
Resistance 112.00 112.55 113.19
Support 111.62 110.96 110.47
Primary Scenario The pair indicates bearish implications. A plunge of the market below the key support level at 111.62 will pave the path down to 110.96.
Alternative Scenario Alternatively, a surpass above the barrier at 112.00 will trigger USDJPY to target the next resistance at 112.55.

USDJPYH4

AUDUSD Technical Analysi AUDUSD H4
Resistance 0.7239 0.7278 0.7298
Support 0.7180 0.7160 0.7122
Primary Scenario AUDUSD topped up at 0.7258, before closing below the daily pivot (0.7219). Should the pair manage to extend its momentum, the currency pair will eliminate the support at 0.7180, with immediate targets the support levels at 0.7160 and 0.7122.
Alternative Scenario A rebound of the pair would generate strength for the market to target the daily pivot point and further up to 0.7239.

AUDUSDH4

The post GBPUSD bloodied into a multi-year low. appeared first on FXTM Blog.

Source:: GBPUSD bloodied into a multi-year low.

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