Euro British Pound technical overview is neutral. The major oscillators confirm the positive underlying trend.
Euro British Pound October, 10 closing price was unchanged (+0.02%) at 0.9036. Technical analysis applied to the daily chart shows a neutral trend within a well defined upward short term trend. The major oscillators confirm the positive underlying trend, but for now no bullish or bearish signals are triggered. For today trading session the forecast of prices movements is between support and resistance levels.
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Simple Moving Average (SMA)
Prices are above the 14 days moving average (SMA value is 0.8831). The short term view is therefore bullish, however for today trading session we can’t exclude retracements 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: 13/10/2016
Performance: 7 trading days= +2.85% – 15 trading days= +4.34% – 30 trading days= +7.66%
Resistance levels: R1= 0.9069 – R2= 0.9103 – R3= 0.9171
Pivot Point: 0.9035
Support levels: S1= 0.9001 – S2= 0.8967 – S3= 0.8899
Buying opportunity above 0.9055 targets minor resistance at 0.9097 and perhaps as far as strong resistance at 0.9128, where sellers could regain control. Above that level it could trigger an acceleration to the upside with the next target at 0.9179.
Selling opportunity below 0.9018 targets minor support at 0.8978 and perhaps as far as strong support at 0.8948, where buyers could get back into the market. Below that level we could expect a bearish downward movement with the next target at 0.8901.