Euro Sterling Pound currency pair trading session of the 05/01/2016 ends at 0.7326 (-0.42%). Many leading oscillators confirm bearish trend.
Euro Sterling Pound currency pair trading session of the 05/01/2016 ends at 0.7326 (-0.42%). Technical overview is bearish. The short term view leaves assume a price movements between support and resistance levels. Many leading oscillators confirm bearish trend. We suggest to monitore today closing.
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Simple Moving Average (SMA)
Strong bearish signal: the price crosses below the 14-day moving average (SMA value is 0.7332). Today trading session forecast is for further prices dropping towards the most significant support levels.
Support and Resistance levels
7, 15 and 30 trading days Performance. Support, Resistance and Pivot Point levels. Last updated closing price: 05/01/2016.
Performance: 7 trading days= -0.31% – 15 trading days= +1.02% – 30 trading days= +4.18%
Resistance levels: R1= 0.7357 – R2= 0.7387 – R3= 0.7440
Pivot Point: 0.7334
Support levels: S1= 0.7304 – S2= 0.7281 – S3= 0.7228
DAILY TRADING SIGNALS
Buying opportunity above 0.7341 targets minor resistance at 0.7376 and perhaps as far as strong resistance at 0.7401, where sellers could regain control. Above that level it could trigger an acceleration to the upside with the next target at 0.7442.
Selling opportunity below 0.7311 targets minor support at 0.7279 and perhaps as far as strong support at 0.7255, where buyers could get back into the market. Below that level we could expect a bearish downward movement with the next target at 0.7217.
