Support & Resistance Levels – GBP/USD - Forex News by FX Leaders

Support & Resistance Levels – GBP/USD

Posted Tuesday, May 23, 2017 by
Skerdian Meta • 2 min read

Last night there was an explosion at the Manchester Arena during a live concert that resulted in many casualties. On behalf of FXleaders.com I´d like to extend solidarity to the families of those who have been affected by the atrocity. We do live in sad times indeed.

The market wasn´t moved though, apart from a few bids in safe haven currencies. GBP was unfazed, which shows that the world is getting used to such news, it´s truly sad. However, let´s take a quick look at the support and resistance levels for GBP/USD.

GBP/USD

Resistance  Support

1 – 1.30 (mild – big round number)                     1 – 1.2950-60 (strong – 100 SMA on H1 chart)

2 – 1.3020(mild)                                                 2 – 1.2930 (mild – 100 SMA on H4 chart)

3 – 1.3050 (strong – the high this year)               3 – 1.2900 (strong)

4 – 1.3100 (mild)                                               4 – 0.7330-40 (strong – the low during half of May)

These are the closest support & resistance levels for this forex pair. This is not the best day for UK traders to trade, but if you must, 1.3050 looks like a pretty good place to open a sell forex signal.

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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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