Some support and resistance levels to keep in mind
We´re starting a new week today after leaving behind a successful week. Part of the success was attributed to the support and resistance levels that we highlighted last week. So, we´ll keep posting these horizontal levels this week as well to keep you updated with the support and resistance levels in the major forex pairs and thus make your forex trading a bit easier.
EUR/USD – The closest resistance level in this pair is the 20 moving average on the hourly chart which stands at 1.1070s. That has provided resistance this morning and it might do so again. Then comes 1.11 where we can find several moving averages such as the 50 and 100 moving averages and finally 1.1150 which was Friday´s high. Support stands at 1.1045-50 which has been the low today so far, 1.1030 and 1.10.
GBP/USD – Although we´ll probably stay clear of the GBP pairs it´s always worth having a look at the support and resistance levels. The first resistance level comes at 1.33 obviously which is a strong round number and the 50 moving average can be found there, then comes 1.3350 and 1.34. Support levels stand at 1.3220 first where the 100 smooth moving average awaits, 1.3180 and 1.3150. But, don´t bet yout house on the technical levels in this pair.
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