GBPUSD is following a bearish outlook.

July 6, 2016

Article by ForexTime

EURUSD H4
Resistance 1.1153 1.1231 1.1277
Support 1.1029 1.0983 1.0905
Primary Scenario EURUSD has tested the important support level at 1.1029. If the currency pair achieves to violate this level, the next support is seen at 1.0983 and then lower at 1.0905.
Alternative Scenario An upward wave would lift the exchange rate towards the daily pivot point (1.1107) and even higher at 1.1153.

GBPUSD H4
Resistance 1.3207 1.3392 1.3496
Support 1.2917 1.2813 1.2628
Primary Scenario The pair is following a bearish outlook. A drop of the market below the key support at 1.2813 will open the way down to 1.2628.
Alternative Scenario Alternatively, a higher thrust above the hurdle at 1.2917 will trigger GBPUSD to target the daily pivot at 1.3103. RSI supports this outlook.

USDCHF H4
Resistance 0.9797 0.9830 0.9887
Support 0.9708 0.9651 0.9619
Primary Scenario USDCHF bounced up from the previous bottom and is now heading towards the resistance level at 0.9797. If the pair manages to withhold the sellers’ pressure, it will eliminate this level, with immediate target the resistance at 0.9830. The next resistance is seen at 0.9887.
Alternative Scenario A plunge of the currency pair will push prices to find support at the daily pivot point (0.9741) and further down to 0.9708.

USDJPY H4
Resistance 101.14 101.53 101.94
Support 100.56 100.10 99.71
Primary Scenario The pair has reached a fresh low in today’s session. Should the bears achieve to overweigh the bulls pressure, USDJPY will breach the previous low at 100.56, targeting the forthcoming support level at 100.10.
Alternative Scenario On the other hand, a correction course of the market will lead the pair to exceed the hurdle at 101.14. The next resistance is estimated at 101.53. RSI is trading within the oversold zone.


AUDUSD H4
Resistance 0.7518 0.7576 0.7609
Support 0.7427 0.7395 0.7337
Primary Scenario AUDUSD is now testing the key support level at 0.7427. If the pair manage to violate this level, it will target the next support at 0.7395 and then lower at 0.7337.
Alternative Scenario A bounce up from current levels will fuel the pair to reach the daily pivot point at 0.7485.

 

Article by ForexTime

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