More support and resistance levels for you - Forex News by FX Leaders

More support and resistance levels for you

Posted Tuesday, July 12, 2016 by
Skerdian Meta • 1 min read

GBP/JPY has always been considered as the beast but lately, this GBP/USD rascal has proved to be a beast too. The support and resistance levels that were in place one day, count for nothing the following day. It´s not really a surprise given the recent fundamental events, such as Brexit referendum and the Brexit leaders all abandoning the Brexit process. Feels like they had no real plans and what they served the public was just a bunch lies just for a moment of glory. 

You see those little candles in the last three weeks in GBP/USD? They´re worth hundreds of pips

Anyhow, 1.30 has been clearly breached and the resistance levels come at 1.3180 which is the top for today, 1.32, 1.3230-40 and 1.33. Resistance levels 1.3130, 1.31. 1.3050 and finally the 1.30 support level. EUR/GBP is hanging around 0.8440s at the moment, which is a support level as well since the 100 smooth moving average is there. If it breaks it means it will turn into resistance. The next support levels come at 0.8430 and 0.84. The resistance levels are present at 0.85, 0.8520 and 0.8550. 

 

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About the author

Skerdian Meta // Lead Analyst
Skerdian Meta Lead Analyst. Skerdian is a professional Forex trader and a market analyst. He has been actively engaged in market analysis for the past 11 years. Before becoming our head analyst, Skerdian served as a trader and market analyst in Saxo Bank's local branch, Aksioner. Skerdian specialized in experimenting with developing models and hands-on trading. Skerdian has a masters degree in finance and investment.
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