GBPUSD collapsed in the previous session.

June 1, 2016

Article by ForexTime

EURUSD H4
Resistance 1.1161 1.1192 1.1212
Support 1.1109 1.1090 1.1058
Primary Scenario EURUSD is now testing the key support at 1.1109. A break back below this level will open the way down to 1.1090 and even lower at 1.1058.
Alternative Scenario A higher thrust of the market will lead the exchange rate towards the daily pivot (1.1141) and further up to 1.1161.

GBPUSD H4
Resistance 1.4646 1.4815 1.4906
Support 1.4387 1.4296 1.4128
Primary Scenario The pair collapsed in the previous session. Further bearish momentum will push prices to find support at 1.4387.
Alternative Scenario On the other hand, a correction course would lift GBPUSD to hit the daily pivot at 1.4555.

USDCHF H4
Resistance 0.9961 0.9988 1.0026
Support 0.9897 0.9859 0.9832
Primary Scenario USDCHF is now poised to retest the barrier at 0.9961. A successful attempt to penetrate this level will trigger the pair to target the forthcoming resistance level at 0.9988.
Alternative Scenario A reversal back below the daily pivot point (0.9923) will pave the path down to 0.9897.

USDJPY H4
Resistance 110.50 111.22 111.83
Support 109.90 109.51 109.16
Primary Scenario The USDJPY pair is negotiating slightly above the upper level of the cloud. A bounce up from current levels will fuel the pair to retest the hurdle at 110.50 and further up to 111.22.
Alternative Scenario Alternatively, a breach of the upper level of the Kumo at 109.90 will push the market to find support at 109.51.

AUDUSD H4
Resistance 0.7271 0.7313 0.7361
Support 0.7182 0.7135 0.7093
Primary Scenario AUDUSD surged above the key resistance at 0.7271 in today’s session. If the pair manages to extend its uptrend, it will target the next level at 0.7313 and then higher at 0.7361.
Alternative Scenario Should the pair achieve to breach the now-support at 0.7271, the next support is seen at 0.7224 (daily pivot point).

 

Article by ForexTime

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