ForeCastle

• "The US Dollar has initially rallied from this news, causing pairs such as the GBP/USD to decline in value. Now that NFP has concluded traders may continue to watch for further declines under today’s S4 pivot point, which resides at a price of 1.4556. In the event of a breakout below this value traders may begin to extrapolate today’s 59-pip range to find initial targets near 1.4497."
• "If the current bout of US Dollar strength begins to falter, traders will begin looking for bullish reversal for the GBP/USD over 1.4585. This value is represented above by the S3 pivot point, and a move beyond this point may suggest price action attempting to test values of resistance. It is worth noting that range resistance is currently found at 1.4644, and todays R4 pivot point resides at a price of 1.4674. In the event that prices trade up to these values, it would suggest that the GBP/USD’s bearish momentum has at least temporarily concluded."

If H4 price will break 1.4505 support level from above to below so the bearish breakdown will be continuing.
If H4 price will break 1.4644 resistance level to above so the local uptrend as the bear market rally will be started.
If H4 price will break 1.4731 resistance so we may see the reversal of intra-day price movement from the primary bearish to the primary bullish market condition.
If not so the price will be ranging within the levels.


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