GBPUSD: The strength of the market faded.

August 26, 2015

Article by ForexTime

EURUSD H4
Resistance 1.1624 1.1735 1.1849
Support 1.1400 1.1286 1.1176
Primary Scenario EURUSD is oscillating around the daily pivot point at 1.1510. Any decisive movement to the south will lead the pair to retest the support level at 1.1400 and further down to 1.1286.
Alternative Scenario A higher thrust of the currency pair will lift the market above the daily pivot, with immediate target the resistance at 1.1624.

 

 

GBPUSD H4
Resistance 1.5775 1.5865 1.5912
Support 1.5638 1.5591 1.5501
Primary Scenario The strength of the market faded and a bearish momentum pushed GBPUSD below the daily pivot at 1.5728. Further drop of the pair will see the exchange rate at 1.5638 and then lower to 1.5591.
Alternative Scenario Alternatively, an upward wave would fuel the pair to penetrate the daily pivot, targeting the resistance level at 1.5775.

 

 

USDCHF H4
Resistance 0.9496 0.9605 0.9706
Support 0.9287 0.9187 0.9078
Primary Scenario USDCHF is heading towards the resistance level at 0.9496. A successful attempt to exceed this level will most likely trigger the market to reach the forthcoming target at 0.9605.
Alternative Scenario A comeback of the exchange rate will push prices below the daily pivot (0.9396), opening the way down to 0.9287.

 

 

USDJPY H4
Resistance 120.12 120.71 122.02
Support 119.30 118.22 116.16
Primary Scenario The pair is moving sideways during the previous two sessions. If the bears manage to take control of the bulls, USDJPY will eliminate the Tenkan-sen line (119.30), targeting the next support level at 118.22. The next target is seen deeper at 116.16.
Alternative Scenario On the other hand, a successful attempt to surpass the Kijun-sen at 120.12 will lead the pair higher towards the resistance level at 120.71.

AUDUSD H4
Resistance 0.7209 0.7292 0.7336
Support 0.7083 0.7039 0.6956
Primary Scenario AUDUSD is following a downtrend. A failed attempt to penetrate the daily pivot point at 0.7166 will push the pair to find support at 0.7083 and then lower to 0.7039.
Alternative Scenario. Should the pair manage to exceed the daily pivot, it will climb towards the resistance level at 0.7209.

 

 

Article by ForexTime

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