GBPUSD is trading near the previous top.

Posted On 17 Jun 2015

Tag: AUDUSD, EURUSD, GBPUSD, USDCHF, USDJPY

	EURUSD	H4
Resistance	1.1315	1.1384	1.1440
Support	1.1191	1.1135	1.1066
Primary Scenario	EURUSD is gyrating the daily pivot at 1.1260. A slide of the pair will pave the way down to 1.1191 and even lower at 1.1135.
Alternative Scenario	If the pair manages to exceed the daily pivot point, it will target the resistance at 1.1315.

	GBPUSD	H4
Resistance	1.5686	1.5725	1.5798
Support	1.5574	1.5501	1.5462
Primary Scenario	The pair is trading near the previous top. If GBPUSD achieves to extend its rally, it will climb towards the resistance level at 1.5686 and further up to 1.5725.
Alternative Scenario	A reversal back below the daily pivot point (1.5613) will push the market to find support at 1.5574.

	USDCHF	H4
Resistance	0.9345	0.9371	0.9409
Support	0.9282	0.9245	0.9219
Primary Scenario	USDCHF is now testing the daily pivot at 0.9308. A bounce up from from current levels will generate strength for the exchange rate to retest the hurdle at 0.9345 and even higher at 0.9371.
Alternative Scenario	Alternatively, a plunge of the pair below the daily pivot, exposes next support at 0.9282.

	USDJPY	H4
Resistance	123.63	123.83	124.30
Support	123.27	122.85	122.44
Primary Scenario	The pair is oscillating below the cloud. A fruitless attempt to move higher will most likely push USDJPY to retest and breach the barrier at 123.27. The next support level is estimated at 122.85.
Alternative Scenario	On the other hand, a fruitful attempt to penetrate the hurdle at 123.63 will lift the pair to reach the lower level of the Kumo at 123.83.

	AUDUSD	H4
Resistance	0.7779	0.7809	0.7838
Support	0.7720	0.7691	0.7662
Primary Scenario	After breaching the key support at 0.7720, AUDUSD is now poised to target the forthcoming support level at 0.7691. Further drop of the exchange rate will push prices lower towards the next support at 0.7662.
Alternative Scenario	An upward wave would trigger the market to exceed the resistance at 0.7720, targeting the daily pivot point at 0.7750.

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Source:: GBPUSD is trading near the previous top.

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