It´s Monday morning, a new week and the weather outside is beautiful. If you remember last Friday though, the market became one sided after the wobble which followed the US employment report. That took the price beyond some important support & resistance levels, so let´s have a look at the new levels for the new week ahead.
Resistance Support
1 – 1.0590-1.0600 (mild) 1 – 1.0570 (mild)
2 – 1.0620 (strong) 2 – 1.0550 (strong)
3 – 1.0650 (mild) 3 – 1.0520 (strong)
4 – 1.0680 (strong) 4 – 1.05 (strong)
5 – 1.07 (strong) 5 – 1.0460 (strong)
GBP/USD
Resistance Support
1 – 1.24 (mild) 1 – 1.2380 (mild)
2 – 1.2420 (strong) 2 – 1.2365-75 (strong)
3 – 1.2450-60 (mild) 3 – 1.2350 (strong)
4 – 1.25 (strong) 4 – 1.2320 (mild)
5 – 1.2550 (strong) 5 – 1.23 (strong)
These are the closest and most visible support and resistance levels at the moment for these forex pairs. Some of them are plain support/resistance levels while others are moving averages or trend lines, so utilise these levels for your forex trades today.
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