Euro British Pound technical overview is neutral within a bearish short term trend. A rebound towards the most significant resistance levels is possible.
Euro British Pound November, 25 closing price was slightly higher at 0.8494 (+0.15%). Technical analysis applied to the daily chart shows a neutral trend, within a bearish short term trend. For today trading session we can expect a rebound up to the first resistance levels. The values of major oscillators confirm the negative trend, at the moment no bullish or bearish signals are triggered.
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Simple Moving Average (SMA)
Prices are below the 14 days moving average (SMA value is 0.8603). The short term view is therefore bearish, however for today trading session we can’t exclude rebounds towards the most significant resistance levels.
Support and Resistance levels
7, 15 and 30 trading days Performance. Support, Resistance and Pivot Point levels. Last updated closing price: 25/11/2016
Performance: 7 trading days= -0.77% – 15 trading days= -4.69% – 30 trading days= -5.74%
Resistance levels: R1= 0.8537 – R2= 0.8580 – R3= 0.8657
Pivot Point: 0.8503
Support levels: S1= 0.8460 – S2= 0.8426 – S3= 0.8349
Buying opportunity above 0.8512 targets minor resistance at 0.8552 and perhaps as far as strong resistance at 0.8581, where sellers could regain control. Above that level it could trigger an acceleration to the upside with the next target at 0.8628.
Selling opportunity below 0.8477 targets minor support at 0.8440 and perhaps as far as strong support at 0.8412, where buyers could get back into the market. Below that level we could expect a bearish downward movement with the next target at 0.8367.