Euro British Pound marked a series of 4 consecutive higher highs. Buying opportunity above 0.8577 targets minor resistance at 0.8617.
Euro British Pound March, 2 closing price was at 0.8559 (-0,33%). Marked a series of 4 consecutive higher highs. Technical overview is neutral. The short term view leaves assume a price movements between support and resistance levels. Momentum indicator shows positive values and confirm the upward very short term trend.
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Simple Moving Average (SMA)
Prices are above the 14 days moving average (SMA value is 0.8505). 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: 02/03/2017
Performance: 7 trading days= +1.01% – 15 trading days= +0.40% – 30 trading days= -1.04%
Resistance levels: R1= 0.8584 – R2= 0.8610 – R3= 0.8654
Pivot Point: 0.8566
Support levels: S1= 0.8540 – S2= 0.8522 – S3= 0.8478
Buying opportunity above 0.8577 targets minor resistance at 0.8617 and perhaps as far as strong resistance at 0.8646, where sellers could regain control. Above that level it could trigger an acceleration to the upside with the next target at 0.8694.
Selling opportunity below 0.8542 targets minor support at 0.8504 and perhaps as far as strong support at 0.8476, where buyers could get back into the market. Below that level we could expect a bearish downward movement with the next target at 0.8431.