A strong bearish movement led GBPUSD below the daily pivot.

December 16, 2015

Article by ForexTime

EURUSD H4
Resistance 1.1022 1.1117 1.1176
Support 1.0867 1.0808 1.0712
Primary Scenario EURUSD is oscillating around the daily pivot point at 1.0963. A plunge of the market will lead the exchange rate to hit the support level at 1.0867 and even lower at 1.0808.
Alternative Scenario A successful attempt to exceed the daily pivot will lift the currency pair to retest the hurdle at 1.1022.

GBPUSD H4
Resistance 1.5135 1.5236 1.5289
Support 1.4980 1.4927 1.4825
Primary Scenario A strong bearish movement led GBPUSD below the daily pivot (1.5082). If the pair manages to extend its momentum, the next support is seen at 1.4980 and further down to 1.4927.
Alternative Scenario On the other hand, a higher thrust of the pair will trigger the market to surpass the daily pivot, with immediate target the resistance at 1.5135.

USDCHF H4
Resistance 0.9956 1.0003 1.0083
Support 0.9830 0.9750 0.9703
Primary Scenario USDCHF has finally managed to penetrate the daily pivot point (0.9877). Further increase of the rate will generate strength for the market to target the resistance level at 0.9956 and then higher at 1.0003.
Alternative Scenario A comeback of the currency pair below the daily pivot will open the way down to 0.9830.

USDJPY H4
Resistance 121.94 122.36 122.87
Support 121.62 121.27 120.92
Primary Scenario The pair is now testing the key resistance at 121.94. A fruitless attempt to break this level will push prices to find support at 121.62 and even lower at 121.27.
Alternative Scenario Alternatively, a successful penetration of the hurdle at 121.94 will lead the pair towards 122.36.

AUDUSD H4
Resistance 0.7260 0.7332 0.7382
Support 0.7137 0.7087 0.7014
Primary Scenario AUDUSD is trading slightly below the daily pivot (0.7210). A tumble of the exchange rate will push the pair underway towards the support level at 0.7137 and further down to 0.7087.
Alternative Scenario. An upward wave will fuel the pair to surpass the daily pivot, targeting the resistance at 0.7260.

 

Article by ForexTime

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