Support and Resistance Trading

marketkolor.com suggests that Support/Resistence Trading strategies would likely be most successful at present on EURGBP. Support is where the price tends to stop falling, and resistance is where the price tends to stop rising. There are different types of support and resistance, such as minor and major (strong). Traders expect minor levels to be broken (like the 0.91 level in the recent case of EURGBP), while strong levels are more likely to hold and cause the price to move in the other direction. With this information we can then start making better trading decisions based on identified support and resistance levels.