Euro Sterling Pound: oscillators do not confirm the downward trend, possible rebounds

Euro Sterling Pound technical view is negative, however the major oscillators do not confirm the downward trend. Possible rebounds.

Euro Sterling Pound yestarday close was at 0.782 (-0.46%). 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. The major oscillators do not confirm the downward trend.

Euro Sterling pound possible rebounds

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Simple Moving Average (SMA)
The price is above the 14 days moving average (SMA value is 0.7726). 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: 09/06/2016.

Performance: 7 trading days= -1.19% – 15 trading days= -0.47% – 30 trading days= +0.77%

Resistance levels: R1= 0.7864 – R2= 0.7907 – R3= 0.7979
Pivot Point: 0.7835
Support levels: S1= 0.7792 – S2= 0.7763 – S3= 0.7691

Buying opportunity above 0.7836 targets minor resistance at 0.7873 and perhaps as far as strong resistance at 0.7900, where sellers could regain control. Above that level it could trigger an acceleration to the upside with the next target at 0.7944.

Selling opportunity below 0.7804 targets minor support at 0.7770 and perhaps as far as strong support at 0.7744, where buyers could get back into the market. Below that level we could expect a bearish downward movement with the next target at 0.7703.

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