GBPUSD bounced up from the previous low.

EURUSD Technical Analysis
Resistance 1.2187 1.2218 1.2251
Support 1.2124 1.2091 1.2060
Primary Scenario EURUSD is oscillating around the daily pivot at 1.2155. A sustained trading above this level will lift the pair to reach the resistance level at 1.2187 and then higher at 1.2218.
Alternative Scenario A failed attempt to move higher will push prices below the daily pivot and even lower at 1.2124.


GBPUSD Technical Analysis GBPUSD H4
Resistance 1.5588 1.5617 1.5661
Support 1.5515 1.5471 1.5443
Primary Scenario The pair bounced up from the previous bottom and is now poised to test the resistance at 1.5588. If GBPUSD manages to withstand the sellers’ pressure, it will climb towards the resistance level at 1.5588 and further up at 1.5617.
Alternative Scenario A reversal back below the daily pivot (1.5544) will push the pair to find support at 1.5515.


USDCHF Technical Analysis USDCHF H4
Resistance 0.9914 0.9942 0.9966
Support 0.9862 0.9839 0.9810
Primary Scenario USDCHF is currently gyrating the daily pivot at 0.9890. A decisive movement to the north will trigger the market to retest the hurdle at 0.9914. The next resistance is seen at 0.9942.
Alternative Scenario A plunge of the exchange rate below the daily pivot, will most likely open the way down to the support level at 0.9862.


USDJPY Technical Analysis USDJPY H4
Resistance 119.76 120.21 120.81
Support 119.25 118.85 118.25
Primary Scenario The upper level of the cloud has been reached yesterday, but the bullish sentiment is still in force. An upward wave would generate strength for the market to penetrate the hurdle at 119.76, targeting the forthcoming resistance at 120.21.
Alternative Scenario Should USDJPY manage to breach the support at 119.25, it will find support at 118.85.


AUDUSD Technical Analysi AUDUSD H4
Resistance 0.8215 0.8249 0.8297
Support 0.8134 0.8087 0.8053
Primary Scenario AUDUSD has tested twice the hurdle at 0.8215 in the today’s session. Any purposeful movement upwards to exceed this level, it will fuel the pair further towards the resistance level at 0.8249.
Alternative Scenario A drop of the currency pair below the daily pivot (0.8168), will see the support level at 0.8134.


The post GBPUSD bounced up from the previous low. appeared first on Forex Circles.

Source:: GBPUSD bounced up from the previous low.

About the Author
Forex Alchemy is your daily source of cutting edge information, tips, tools, articles, analysis from across the Forex trading industry. If you would like to guest post or contribute regular articles on Forex Alchemy then please contact us here.

Leave a Reply