The US dollar bounces from support on last trading day of the week. Last week volume was thin as there was Holiday as of Thanks Giving’s Day. Strong selling in technological stock brings major index down. As result Demand for Greenback Currency USD established.
The Euro remains weak due to the Brexit and developments in EU. That will favor the US, mainly because of rate hikes coming from the United States.
EUR/USD Support and Resistance Level
The Euro rally in early trade of week but found resistance at 1.15. The Euro keeps on battling because of the Brexit, and the issues between the EU and Italy.
1.15 levels is a major resistance and I think at this point it’s going to be difficult to get above there.
Trading Range: 1.1120-1.1500
GBP/USD Support and Resistance Level
Pound Dollar GBP/USD pair closes to the 1.2851 regions. Keeps trading in tight range now we can anticipate that will test the region close to the 1.2980
We can easily see the chart of GBP/USD pair taking support near 1.2680 and facing resistance around 1.3083.
Trading Range: 1.2660-1.3000