GBPUSD plunged below the daily pivot point.

EURUSD Technical Analysis
EURUSD H4
Resistance 1.1026 1.1125 1.1183
Support 1.0870 1.0812 1.0713
Primary Scenario EURUSD has breached the key support level at 1.0969 (daily pivot). Should the pair manage to extend its momentum, it will target the forthcoming support level at 1.0870 and then lower at 1.0812.
Alternative Scenario A correction course above the daily pivot would lift the exchange rate towards the resistance at 1.1026.

EURUSDH4

GBPUSD Technical Analysis GBPUSD H4
Resistance 1.3987 1.4109 1.4176
Support 1.3798 1.3731 1.3609
Primary Scenario The pair plunged below the daily pivot point at 1.3920. Further drop of the market will lead GBPUSD down to 1.3798 and then lower at 1.3731.
Alternative Scenario Alternatively, a higher thrust of the market above the daily pivot will fuel the pair to retest the hurdle in line at 1.3987.

GBPUSDH4

USDCHF Technical Analysis USDCHF H4 up-trend
Resistance 1.0008 1.0057 1.0126
Support 0.9890 0.9821 0.9772
Primary Scenario USDCHF is now negotiating above the daily pivot (0.9939). A bounce up from current levels would fuel the pair to hit the resistance level at 1.0008 and further up to 1.0057.
Alternative Scenario A comeback of the currency pair will push prices to find support at the daily pivot and even lower at 0.9890.

USDCHFH4

USDJPY Technical Analysis USDJPY H4
Resistance 112.96 113.45 113.97
Support 112.70 112.04 111.34
Primary Scenario The pair topped up at 113.97, before retracing below the Kumo. A break back below the support at 112.70 will open the way down to 112.04.
Alternative Scenario On the other hand, a surge of USDJPY above the key barrier at 112.96, would trigger the market towards 113.45.

USDJPYH4

AUDUSD Technical Analysi AUDUSD H4
Resistance 0.7213 0.7303 0.7351
Support 0.7074 0.7027 0.6936
Primary Scenario A strong bearish movement led AUDUSD below the daily pivot at 0.7165. If the bears manage to take control of the bulls, the next support is seen at 0.7074 and then lower at 0.7027.
Alternative Scenario An upward wave will generate strength for the market to surpass the daily pivot, with immediate target the resistance at 0.7213.

AUDUSDH4

The post GBPUSD plunged below the daily pivot point. appeared first on FXTM Blog.

Source:: GBPUSD plunged below the daily pivot point.

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