Outside bar pattern. For intraday trading session Sterling Pound US Dollar technical view is negative and leaves assume the down-trend continuation.
Sterling Pound US Dollaro friday close was at 1.3109 (-0.96%). 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 confirm the downward trend. An outside bar pattern drawn on daily chart.
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Simple Moving Average (SMA)
Strong bearish signal: the price crosses below the 14-day moving average (SMA value is 1.3115). Today trading session forecast is for further prices dropping 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: 22/07/2016.
Performance: 7 trading days= -1.82% – 15 trading days= -1.29% – 30 trading days= -7.72%
Resistance levels: R1= 1.3240 – R2= 1.3372 – R3= 1.3584
Pivot Point: 1.3160
Support levels: S1= 1.3028 – S2= 1.2948 – S3= 1.2736
Buying opportunity above 1.3161 targets minor resistance at 1.3230 and perhaps as far as strong resistance at 1.3285, where sellers could regain control. Above that level it could trigger an acceleration to the upside with the next target at 1.3367.
Selling opportunity below 1.3085 targets minor support at 1.3020 and perhaps as far as strong support at 1.2967, where buyers could get back into the market. Below that level we could expect a bearish downward movement with the next target at 1.2887.