Where do the levels stand today?
Skerdian Meta • 1 min read
The British Pound has stabilized somewhat in the last two days which gives the technical support/resistance levels a chance to have their say. So, let’s have a look at these levels in this pair. I mean, things can accelerate and volatility pick up in the blink of an eye these days but we must do our homework anyway.
So where are the support/resistance levels in GBP/USD? The closest resistance is at 1.34 then 1.3425 which is the high for today, 1.35 which is the 2008 low and 1.36, but I don’t think we’ll get there today. The Support comes at 1.3350, 1.3290s which is where the 50 MA in the hourly chart lays and 1.3250-60.
How about EUR/USD? The first support level comes at 1.1050 which has been a strong resistance level all year last year. Below there 1.10 is obviously to be acknowledged then 1.09 which was the bottom of the drop after the Brexit vote. Resistance comes at 1.1100-10 which has been the high in the last two days and 1.1130 where the 100 moving average awaits.
So, these are the main levels for these two major pairs today and that’s where we will base our forex signals if the price hits them.