GBPUSD slashed sharply in the previous session.

November 6, 2015

Article by ForexTime

EURUSD H4
Resistance 1.0907 1.0933 1.0971
Support 1.0844 1.0807 1.0781
Primary Scenario EURUSD has retraced from its previous bottom and is now negotiating above the daily pivot (1.0870). Any further correction will lift the exchange rate higher towards the resistance levels at 1.0907 and 1.0933.
Alternative Scenario On the other hand, a drop of the market below the daily pivot will open the way down to 1.0844.

 

 

GBPUSD H4
Resistance 1.5336 1.5466 1.5532
Support 1.5139 1.5073 1.4942
Primary Scenario The pair slashed sharply below the daily pivot point at 1.5270 in the previous session. If GBPUSD manages to extend its momentum, the next support is seen at 1.5139 and even lower at 1.5073.
Alternative Scenario A higher thrust of the currency pair would fuel the pair to exceed the daily pivot and then higher at 1.5336. RSI oscillator supports this outlook.

 

 

USDCHF H4
Resistance 0.9977 1.0006 1.0034
Support 0.9920 0.9891 0.9862
Primary Scenario USDCHF is revolving between the daily pivot point at 0.9949 and the barrier at 0.9977. A successful attempt to surpass this hurdle will trigger the market to hit the forthcoming resistance level at 1.0006 and further up to 1.0034.
Alternative Scenario A comeback of the pair below the daily pivot will lead the exchange rate down to 0.9920.

 

 

USDJPY H4
Resistance 122.00 122.40 123.10
Support 121.61 121.31 120.80
Primary Scenario The pair is trading near the previous top at 122.00. Should USDJPY achieve to penetrate this level, it will climb towards the resistance levels at 122.40 and then higher at 123.10.
Alternative Scenario A reversal back below the support level at 121.61 will push prices to find support at 121.31.

AUDUSD H4
Resistance 0.7164 0.7188 0.7208
Support 0.7120 0.7100 0.7076
Primary Scenario AUDUSD is gyrating the daily pivot at 0.7144. If the pair manages to eliminate the support at 0.7120, it will target the forthcoming level at 0.7100.
Alternative Scenario. Alternatively, a surge of the exchange rate above the daily pivot will generate strength for the market to hit the key level at 0.7164.

 

 

Article by ForexTime

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