Key Levels for Pound Traders - Forex News by FX Leaders

Key Levels for Pound Traders

Posted Tuesday, October 31, 2017 by
Rowan Crosby • 1 min read

It’s a massive week for those interested in the pound. With the BOE almost certain to raise rates, the GBP has started the week strongly against most other currencies.

In the GBP/USD, we saw some strength, even against the backdrop of a weak USD. As such I suspect there might be more upside ahead for the GBP.

An obvious plan is to simply buy pullbacks at key levels ahead of the BOE. As it stands there is a 90% of a rate hike. However, there is some clear downside should that not occur.

 

Key Support and Resistance Levels

Support

Resistance

1.3100

1.3268

1.3083

1.3300

1.3050

1.3338

 
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About the author

Rowan Crosby // Asia-Pacific Analyst
Rowan Crosby is a professional futures trader from Sydney, Australia. Rowan has extensive experience trading commodities, bonds and equity futures in the Asian, European and US markets. Rowan holds a Bachelor of Finance and Economics degree and is focused heavily on Investment Finance and Quantitative Analysis.
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