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GBPUSD is currently trading slightly above the daily pivot.

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EURUSD Technical AnalysisEURUSDH4Down Trend
Primary ScenarioThe trend has been overall neutral in the previous sessions. A decisive movement downwards will push the pair to breach the support level at 1.1331 and then lower at 1.1296.
Alternative ScenarioOn the other hand, an upward wave would lead EURUSD above the daily pivot at 1.1390 towards the hurdle at 1.1425.



GBPUSD Technical AnalysisGBPUSDH4Up Trend
Primary ScenarioGBPUSD is currently trading slightly above the daily pivot (1.5427). A surge of the pair will trigger the market to penetrate the resistance level at 1.5450, with immediate target the forthcoming resistance at 1.5487.
Alternative ScenarioShould the pair manage to break below the daily pivot, it will find support at 1.5389.



USDCHF Technical AnalysisUSDCHFH4Up Trend
Primary ScenarioThe pair is trading near the previous top. If USDCHF manages to extend its momentum, it will climb towards the resistance levels at 0.9532 and 0.9572.
Alternative ScenarioA comeback of the exchange rate will bring the pair into a correction course, down to the daily pivot (0.9458) and even lower at 0.9418. RSI oscillator supports this outlook.



USDJPY Technical AnalysisUSDJPYH4Down Trend
Primary ScenarioUSDJPY is negotiating within the cloud. A plunge of the market will open the way down to the support level at 118.73. Any successful attempt to violate this key support will lead the pair towards the next target at 118.45.
Alternative ScenarioAlternatively, an upward wave would push the pair to reach the resistance level within the cloud at 119.09.



AUDUSD Technical AnalysiAUDUSDH4Up Trend
Primary ScenarioAUDUSD is pivoting around the daily pivot point at 0.7796. Any forceful attempt to penetrate the hurdle at 0.7835 will generate strength for the market to target the forthcoming resistance at 0.7881.
Alternative ScenarioA drop of the pair below the daily pivot, will push the pair to reach the support at 0.7750.



The post GBPUSD is currently trading slightly above the daily pivot. appeared first on Forex Circles.

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