The latest daily technical analysis reveals the key support and resistance levels that each of these assets is likely to reach today. Look at the charts and our market analysts’ observations below and gain a fresh perspective on trading.
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GBPUSD
Looking at GBPUSD’s 4-hour chart, we can see its downtrend for this week, where a retraction took place on the 29th of October falling from the 1.38 price range to 1.37, struggling to consolidate, and subsequently fell lower to 1.36 where it formed a support base. Since then it managed to bounce back up to 1.37 but had trouble holding its ground, falling again, to the 1.366 price range where it is currently traded, attempting to consolidate from a higher support level.
Today we could expect another attempt to rise towards and break out from its resistance level of 1.37.
If, however, it does not manage to hold its current level, then we could expect a move towards the nearest support base at 1.36.
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