Support & Resistance Levels – GBP/USD
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.
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.