Euro Sterling Pound: intraday trading session technical view is negative

Euro Sterling Pound currency pair intraday trading session technical view is negative. Selling opportunity below 0.7751.

Last Friday (12/02/2016) Euro Sterling Pound currency pair close was at 0.7762 (-0.68%). For intraday trading session the technical view is negative and leaves assume the down-trend continuation. However, we can’t exclude rebounds towards the most significant resistance levels being the major oscillators still positive.

Euro Sterling Pound currency pair

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Simple Moving Average (SMA)
The price is above the 14 days moving average (SMA value is 0.7676). 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: 12/02/2016.

Performance: 7 trading days= +1.04% – 15 trading days= +1.86% – 30 trading days= +5.50%

Resistance levels: R1= 0.7813 – R2= 0.7863 – R3= 0.7949
Pivot Point: 0.7777
Support levels: S1= 0.7727 – S2= 0.7691 – S3= 0.7605


DAILY TRADING SIGNALS

Buying opportunity above 0.7786 targets minor resistance at 0.7821 and perhaps as far as strong resistance at 0.7847, where sellers could regain control. Above that level it could trigger an acceleration to the upside with the next target at 0.7891.

Selling opportunity below 0.7751 targets minor support at 0.7719 and perhaps as far as strong support at 0.7694, where buyers could get back into the market. Below that level we could expect a bearish downward movement with the next target at 0.7654.