Sterling Pound US Dollar currency pair close slightly lower. Many leading oscillators confirm bearish trend. Marked a sixth consecutive negative trading session.
Sterling Pound US Dollar currency pair close slightly lower. Trading session of the 05/01/2016 ends at 1.4674 (-0.26%). Marked a series of 3 consecutive higher lows. Technical overview is bearish, anyway the short term view leaves assume a price movements between support and resistance levels. Many leading oscillators confirm bearish trend. Marked a sixth consecutive negative trading session. We suggest to monitore today closing.
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Simple Moving Average (SMA)
The price is below the 14 days moving average (SMA value is 1.4858). The short term view is therefore bearish, however for today trading session we can’t exclude retracements 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: 05/01/2016.
Performance: 7 trading days= -1.63% – 15 trading days= -3.19% – 30 trading days= -2.99%
Resistance levels: R1= 1.4721 – R2= 1.4767 – R3= 1.4855
Pivot Point: 1.4679
Support levels: S1= 1.4633 – S2= 1.4591 – S3= 1.4503
DAILY TRADING SIGNALS
Buying opportunity above 1.4708 targets minor resistance at 1.4784 and perhaps as far as strong resistance at 1.4838, where sellers could regain control. Above that level it could trigger an acceleration to the upside with the next target at 1.4932.
Selling opportunity below 1.4637 targets minor support at 1.4561 and perhaps as far as strong support at 1.4505, where buyers could get back into the market. Below that level we could expect a bearish downward movement with the next target at 1.4413.