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GBPUSD: The strength of the market faded.
| EURUSD | H4 | ||
| Resistance | 1.0999 | 1.1062 | 1.1099 |
| Support | 1.0900 | 1.0862 | 1.0800 |
| Primary Scenario | EURUSD topped up at 1.1041, before retracing below the daily pivot at 1.0962. A persistent trading below this level will pave the path down to 1.0900 and then lower at 1.0862. | ||
| Alternative Scenario | If the pair manages to exceed the daily pivot, the next resistance is seen at 1.0999. | ||
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GBPUSD | H4 | |
| Resistance | 1.5201 | 1.5246 | 1.5292 |
| Support | 1.5110 | 1.5065 | 1.5019 |
| Primary Scenario | The strength of the market faded and GBPUSD is trading below the daily pivot (1.5155). A decisive movement to the south will push prices to retest the support at 1.5110 and drop further down to 1.5065. | ||
| Alternative Scenario | Alternatively, an upward wave would trigger the market to penetrate the daily pivot, targeting the resistance at 1.5201. | ||
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USDCHF | H4 |  |
| Resistance | 0.9910 | 0.9949 | 0.9991 |
| Support | 0.9829 | 0.9787 | 0.9748 |
| Primary Scenario | USDCHF has recovered from the previous bottom and is now negotiating above the daily pivot at 0.9868. A bounce up from current levels will fuel the pair to hit the resistances at 0.9910 and even higher at 0.9949. | ||
| Alternative Scenario | On the other hand, a plunge of the market below the daily pivot will lead the exchange rate down to 0.9829. | ||
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USDJPY | H4 | |
| Resistance | 122.22 | 122.47 | 122.89 |
| Support | 121.97 | 121.53 | 121.06 |
| Primary Scenario | The bearish scenario is still in effect. Any forceful downward momentum will push USDJPY below the key support at 121.97, with immediate target the forthcoming support level at 121.53. | ||
| Alternative Scenario | Should the pair manage to surpass the hurdle at 122.22, the next resistance is estimated at 122.47. | ||
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AUDUSD | H4 | |
| Resistance | 0.7334 | 0.7390 | 0.7447 |
| Support | 0.7222 | 0.7165 | 0.7110 |
| Primary Scenario | AUDUSD is oscillating around the daily pivot point (0.7278). If the bears achieve to take control of the bulls, the rate would breach the barrier at 0.7222, opening the way down to 0.7165. | ||
| Alternative Scenario. | A surge of the market above the daily pivot will lift the currency pair towards the resistance at 0.7334. | ||
The post GBPUSD: The strength of the market faded. appeared first on FXTM Blog.
