GBPUSD is following a downtrend.

September 2, 2015

Article by ForexTime

EURUSD H4
Resistance 1.1361 1.1409 1.1486
Support 1.1237 1.1160 1.1112
Primary Scenario EURUSD is trading slightly below the daily pivot point at 1.1284. A  plunge of the market will push prices lower towards the support level at 1.1237 and further down to 1.1160.
Alternative Scenario An upward wave would lift the exchange rate above the daily pivot and then higher up to the resistance level at 1.1361.

 

 

GBPUSD H4
Resistance 1.5373 1.5445 1.5482
Support 1.5265 1.5227 1.5156
Primary Scenario The pair is following a downtrend. If GBPUSD manages to extend its bearish momentum, the next support is seen at 1.5265 and even lower at 1.5227.
Alternative Scenario A higher thrust of the currency pair will lead the market to penetrate the daily pivot, leading the way up to 1.5373.

 

 

USDCHF H4
Resistance 0.9650 0.9714 0.9755
Support 0.9544 0.9504 0.9439
Primary Scenario USDCHF is gyrating the daily pivot at 0.9609. A decisive movement to the north will most likely trigger the market to retest the hurdle at 0.9650. A successful penetration of this level will push the  pair to target the forthcoming resistance at 0.9714.
Alternative Scenario On the other hand, should the pair achieve to violate the daily pivot point, it will find support at 0.9544.

 

 

USDJPY H4
Resistance 120.36 121.07 121.42
Support 120.02 119.59 119.22
Primary Scenario The USDJPY pair is negotiating below the upper level of the Kumo. If the pair manages to withstand the sellers’ pressure, it will exceed this level (120.36), targeting the resistance level at 121.07.
Alternative Scenario Alternatively, a break back below the support at 120.02 will pave the way down to 119.59.

AUDUSD H4
Resistance 0.7106 0.7199 0.7245
Support 0.6966 0.6920 0.6827
Primary Scenario AUDUSD has finally managed to violate the key support level at 0.7059 (daily pivot). Further drop of the market will push prices to retest the support at 0.6966. Next support level lies ahead at 0.6920.
Alternative Scenario. A surge of the exchange rate above the daily pivot will fuel the pair to target the resistance level at 0.7106.

 

 

Article by ForexTime

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