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

Support & Resistance Levels for GBP/USD

Posted Wednesday, October 11, 2017 by
Skerdian Meta • 2 min read

GBP/USD has been slipping for more than two weeks. But in the last few days this forex pair has claimed back some of the losses and crawled above 1.32 amid some USD weakness.

Although, now we have reached an important level which might turn this pair upside-down again. Let’s have a look at the closest levels which might provide support or resistance today.

GBP/USD is at a very important level right now.

Resistance                                                                  

1 – 1.3220-30 (Strong – previous support)                     

2 – 1.3250-60 (Medium – 200 SMA on H1 chat)               

3 – 1.33 (Strong – Big round number)                              

5 – 1.3350-60 (Strong – 100 SMA on H1 chart)                 

 

Support

1 – 1.31 (Strong – Big round number)

2 – 1.31.75-80 (Mild – 50 SMA on the H1 chart)

3 – 1.313-40 (Medium – 100 SMA on H1 chart)

4 – 1.30 (Strong – Big round number)

 

This pair has been stretching the upside this morning, but as I said, we have reached an important level right now. The 200 SMA which has been a solid resistance previously, stands at 1.3230 on the daily chart, so that might turn the price back down.

 I’m actually thinking about opening a long-term sell forex signal here with a stop above the 200 SMA and an open TP. 

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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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