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GBPUSD: In the 4-hour chart, the pair is following a downtrend.
| EURUSD | H4 | ||
| Resistance | 1.0979 | 1.1034 | 1.1080 |
| Support | 1.0879 | 1.0832 | 1.0778 |
| Primary Scenario | EURUSD is oscillating around the daily pivot point at 1.0933. A decisive movement to the south will push the pair to retest the support level at 1.0879 and even lower at 1.0832. | ||
| Alternative Scenario | Alternatively, a higher thrust of the rate will lead the currency pair to exceed the daily pivot, with immediate target the resistance level at 1.0979. | ||
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GBPUSD | H4 | |
| Resistance | 1.5278 | 1.5358 | 1.5412 |
| Support | 1.5144 | 1.5090 | 1.5010 |
| Primary Scenario | In the 4-hour chart, the pair is following a downtrend. Further drop of GBPUSD will lead the exchange rate towards the support level at 1.5144 and further down to 1.5090. | ||
| Alternative Scenario | Should the pair manage to penetrate the daily pivot (1.5224), the next resistance is seen at 1.5278. | ||
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USDCHF | H4 |  |
| Resistance | 0.9500 | 0.9542 | 0.9601 |
| Support | 0.9398 | 0.9338 | 0.9296 |
| Primary Scenario | USDCHF is now testing the important level at the daily pivot (0.9440). A bounce up from current levels will most likely trigger the market to target the forthcoming resistance level at 0.9500 and then higher at 0.9542. | ||
| Alternative Scenario | On the other hand, a plunge of the pair below the daily pivot will open the way down to 0.9398. | ||
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USDJPY | H4 | |
| Resistance | 125.05 | 125.93 | 126.51 |
| Support | 124.46 | 123.91 | 123.42 |
| Primary Scenario | The pair has penetrated into fresh highs in today’s session. If USDJPY manages to extend its uptrend, it will eliminate the hurdle at 125.05. The next resistance is estimated at 125.93. | ||
| Alternative Scenario | A reversal back below the support level at 124.46 will bring the pair into a correction course, pushing the market to hit the support at 123.91. | ||
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AUDUSD | H4 | |
| Resistance | 0.7649 | 0.7693 | 0.7718 |
| Support | 0.7579 | 0.7553 | 0.7509 |
| Primary Scenario | AUDUSD is now heading towards the resistance level at 0.7693. A successful surpass of this level will generate strength for the market to target the forthcoming resistance at 0.7718. | ||
| Alternative Scenario | A setback of the market will push the pair to find support at 0.7649. | ||
The post GBPUSD: In the 4-hour chart, the pair is following a downtrend. appeared first on Forex Circles.
Source:: GBPUSD: In the 4-hour chart, the pair is following a downtrend.
