GBPUSD: The trading range is limited to 1.5668 and 1.5794.

Posted On 30 Jun 2015

Tag: AUDUSD, EURUSD, GBPUSD, USDCHF, USDJPY

	EURUSD	H4
Resistance	1.1355	1.1476	1.1677
Support	1.1034	1.0833	1.0712
Primary Scenario	EURUSD has recovered from the previous low at 1.0953. A persistent trading above the daily pivot point it is fueling an uptick for the market to target the resistance level at 1.1355.
Alternative Scenario	A comeback of the currency pair will put pressure on the rate to breach the daily pivot (1.1154), opening the way down to 1.1034.

	GBPUSD	H4
Resistance	1.5794	1.5854	1.5921
Support	1.5668	1.5601	1.5541
Primary Scenario	The trading range is limited to 1.5668 and 1.5794. If GBPUSD manages to withstand the sellers’ pressure, it will climb towards the barrier at 1.5794 and even higher at 1.5854.
Alternative Scenario	On the other hand, should the pair achieve to violate the daily pivot, it will find support at 1.5668.

	USDCHF	H4
Resistance	0.9368	0.9489	0.9551
Support	0.9185	0.9124	0.9003
Primary Scenario	USDCHF is now testing the daily pivot at 0.9306. A failed attempt to move higher will most likely push prices to find support at 0.9185.
Alternative Scenario	A surge of the market above the daily pivot will lead the pair to retest the hurdle in line at 0.9368.

	USDJPY	H4
Resistance	122.55	122.94	123.45
Support	122.09	121.47	120.96
Primary Scenario	The pair is negotiating near the previous low at 122.09. A decisive movement downwards will push USDJPY to breach this level, with immediate target the support level at 121.47.
Alternative Scenario	Alternatively, an upward wave would trigger the market to exceed the barrier at 122.55, targeting the resistance level at 122.94.

	AUDUSD	H4
Resistance	0.7730	0.7783	0.7854
Support	0.7605	0.7534	0.7481
Primary Scenario	AUDUSD bounced up from the previous bottom and is now trading above the daily pivot (0.7658). Further increase of the market will lift the exchange rate towards the resistance levels at 0.7730 and 0.7783.
Alternative Scenario	A plunge of the currency pair below the daily pivot will lead the pair underway to face the support level at 0.7605.

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Source:: GBPUSD: The trading range is limited to 1.5668 and 1.5794.

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