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

Support & Resistance Levels for GBP/USD

Posted Friday, September 8, 2017 by
Skerdian Meta • 1 min read

In the last market update, we looked at the bigger GBP/USD timeframe chart. We can see that it is headed higher towards the 200 daily SMA which stands around 100+ pips. In the meantime, let’s have a look at the smaller timeframe charts to see if we can pull a trade or two on the way to the 200 SMA.

Resistance  Support

1 – 1.3150-60 (Mild – Previous resistance)                      1 – 1.31 (Strong – Big round number)

2 – 1.3180 (Medium – Buffer zone for 1.32)                     2 – 1.3080 (Medium – 50 SMA on the H1 chart)

3 – 1.32 (Strong – Big round number)                             3 – 1.3050 (Mild – Previous resistance)

4 – 1.3250-60 (Strong – Line in the sand)                        4 – 1.30 (Strong – Big round number)

Today is another upward day for this forex pair, so logically we want to look for dips. The support levels together with moving averages will provide some nice buying spots, so the first and the safest place I’ll be looking to buy today would be around 1.31.

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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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