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GBPUSD is still trading in a bearish sentiment.
| EURUSD | H4 | ||
| Resistance | 1.1295 | 1.1360 | 1.1426 |
| Support | 1.1163 | 1.1098 | 1.1032 |
| Primary Scenario | EURUSD edged up at 1.1295, before retracing below the daily pivot point at 1.1229. A break back below the support level at 1.1163 will most likely open the way down to 1.1098 and even lower at 1.1032. | ||
| Alternative Scenario | An upward wave would lift the exchange rate towards the daily pivot and further up to 1.1295. | ||
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GBPUSD | H4 | |
| Resistance | 1.5286 | 1.5331 | 1.5375 |
| Support | 1.5198 | 1.5155 | 1.5110 |
| Primary Scenario | The pair is still trading in a bearish sentiment. If GBPUSD manages to extend its downtrend, the rate will violate the key support at 1.5198, with immediate target the level at 1.5155. | ||
| Alternative Scenario | Should the pair achieve to exceed the daily pivot (1.5243), it will reach the resistance level at 1.5286. | ||
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USDCHF | H4 |  |
| Resistance | 0.9812 | 0.9876 | 0.9948 |
| Support | 0.9676 | 0.9603 | 0.9540 |
| Primary Scenario | USDCHF is trading near the previous top at 0.9812. A successful penetration of this level will trigger the market to hit the forthcoming resistance at 0.9876 and then higher at 0.9948. | ||
| Alternative Scenario | A reversal back would bring the market into a correction course, pushing prices down to the daily pivot (0.9739) and further down to 0.9676. | ||
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USDJPY | H4 | |
| Resistance | 120.37 | 120.64 | 120.98 |
| Support | 120.18 | 120.01 | 119.52 |
| Primary Scenario | The USDJPY pair has entered a new bullish outlook. A bounce up from current levels will fuel the exchange rate to surpass the hurdle at 120.37, targeting the resistance level 120.64. | ||
| Alternative Scenario | On the other hand, a plunge of the currency pair will bring the market within the Kumo. The next support is seen at 120.01. | ||
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AUDUSD | H4 | |
| Resistance | 0.7061 | 0.7104 | 0.7166 |
| Support | 0.6957 | 0.6895 | 0.6852 |
| Primary Scenario | AUDUSD has recovered from the previous low and is now trading slightly above the daily pivot at 0.6999. If the pair manages to withstand the sellers’ pressure, the next resistance is estimated at 0.7061 and even higher at 0.7104. | ||
| Alternative Scenario. | A comeback of the currency pair will push prices to find support below the daily pivot point at 0.6957. | ||
The post GBPUSD is still trading in a bearish sentiment. appeared first on Forex Circles.
