Resistance Levels

[John Steedman]

Hi,

Daily

EURGBP a) 07May – Untested resistance at 0.740411.
b) 09Mar – About to be tested support level at 0.7062.

EURUSD a) 15May – Untested resistance a 1.24089.
b) 15Mar – Untested support at 1.04989.

GBPUSD a) 14May – Untested resistance at 1.57422.
b) 13Apr – Untested support at 1.46742.

15 mins

GBPUSD 26May – Untested resistance at 1.53671.

Charts attached.

Cheers,

John.

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[Rich Fitton]

Hi John,

You got it! It still intrigues me to watch the market’s behaviour around those levels.

[Ryszard Swierczynski]

Hi,
I am looking at your charts and I’m not sure if I understand you correct.

For example at the chart EUR/GBP you marked a level of untested support. Does it have to be a support? I think that it also can be a level of resistance.

Same goes for GBPUSD 15 min. How do you decide if the level that you’ve marked is support or resistance?
Please, help :).

[Rich Fitton]

Hi Ryszard, yep, you’ve got it… they are essentially the same kind of feature. There is only one simple difference:

Resistance = when the level appears above the current market price
Support = when the level appears below the current market price

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