Euro Sterling Pound technical overview is strongly positive. Marked a series of 9 consecutive higher highs.
Euro Sterling Pound yesterday close was at 0.8654 (-0.32%). Marked a series of 9 consecutive higher highs. Technical overview is strongly positive, but for today trading session we can’t exclude price movements between support and resistance levels. Many leading oscillators confirm the bullish trend.
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Simple Moving Average (SMA)
The price is above the 14 days moving average (SMA value is 0.8521). 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: 16/08/2016
Performance: 7 trading days= +1.75% – 15 trading days= +3.44% – 30 trading days= +0.75%
Resistance levels: R1= 0.8710 – R2= 0.8765 – R3= 0.8861
Pivot Point: 0.8669
Support levels: S1= 0.8614 – S2= 0.8573 – S3= 0.8477
Buying opportunity above 0.8672 targets minor resistance at 0.8713 and perhaps as far as strong resistance at 0.8742, where sellers could regain control. Above that level it could trigger an acceleration to the upside with the next target at 0.8791.
Selling opportunity below 0.8637 targets minor support at 0.8599 and perhaps as far as strong support at 0.8570, where buyers could get back into the market. Below that level we could expect a bearish downward movement with the next target at 0.8525.