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Technical Analysis; GBP/USD,EUR/USD

STO

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GBP/USD

The Bank of England announced its decision on the interest rate last week. The value of 0.25% remained unchanged but the comments on the fiscal policy stated that there will be risks for the UK in view of the upcoming Brexit negotiations. Investors should expect a high volatility in this trading instrument as Brexit negotiations are expected to be complicated.


Support and resistance
Support levels: 1.2575, 1.2665, 1.2735.
Resistance levels: 1.2845, 1.2905, 1.2975, 1.3015.


EUR/USD

On Friday, EUR/USD closed with growth caused by the release of positive Eurozone inflation statistics. The end of the previous week was characterized by market volatility. Single European currency is stable recently while USD is still strong. With the opening of the new trading session the pair continued growth and is currently trying to consolidate above 1.1200.


Support and resistance
Support levels: 1.1200, 1.1170, 1.1120.
Resistance levels: 1.1220, 1.1240, 1.1265, 1.1280.

This article comprises the personal view and opinion of the STO Investment Research Desk and at no time should be construed as Investment Advice

STO Review

Source: https://www.stofs.com/en/newsroom/entry/TECHNICAL/technical-analysis-gbpusdeurusd-/?camp=24219
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