GBPUSD is following a correction course.

September 10, 2015

Article by ForexTime

EURUSD Technical AnalysisEURUSDH4Up Trend
Resistance1.12361.12681.1321
Support1.11521.10991.1068
Primary ScenarioEURUSD is now poised to penetrate the hurdle in line at 1.1236. If that happens, the currency pair will most likely attempt to target the resistance level at 1.1268.
Alternative ScenarioA comeback of the market will push prices to find support at the daily pivot point at 1.1184.

 

EURUSDH4

 

GBPUSD Technical AnalysisGBPUSDH4Down Trend
Resistance1.53961.54271.5451
Support1.53421.53181.5287
Primary ScenarioThe pair is following a correction course. A deeper correction of GBPUSD would lead the market to breach the support level at 1.5342, with immediate target the forthcoming level at 1.5318.
Alternative ScenarioAn upward wave will lift the exchange rate towards the daily pivot (1.5372) and even higher at 1.5396.

 

GBPUSDH4

 

USDCHF Technical AnalysisUSDCHFH4Up Trend
Resistance0.98110.98710.9919
Support0.97030.96540.9595
Primary ScenarioUSDCHF is gyrating the daily pivot at 0.9763. A decisive movement to the north will trigger the market to climb towards the resistance levels at 0.9811 and 0.9871.
Alternative ScenarioA break back below the daily pivot will push prices to find support at 0.9703.

 

USDCHFH4

 

USDJPY Technical AnalysisUSDJPYH4Up Trend
Resistance120.79121.28121.77
Support120.52120.08119.34
Primary ScenarioThe pair intends to retest and surpass the barrier at 120.79. The next resistance is seen at 121.28 and even higher at 121.77.
Alternative ScenarioOn the other hand, a breach of the Tenkan-sen line at 120.52 will lead the rate down to 120.08.

USDJPYH4

AUDUSD Technical AnalysiAUDUSDH4Down Trend
Resistance0.70530.70930.7117
Support0.69880.69640.6923
Primary ScenarioAUDUSD bottomed at 0.6945, before retracing below the daily pivot zone (0.7029). A forceful attempt to violate the support level at 0.6988 will open the way down to 0.6964 and then lower to 0.6923.
Alternative Scenario. Should the pair manage to exceed the daily pivot, the next resistance is estimated at 0.7053.

 

AUDUSDH4

 


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