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Below 1.15 USD the major trend remains bearish 1.11 USD and then 1.1 USD are in the line of sight. The surpassing of 1.15 USD would cancel this anticipation and favor a recovery toward 1.16 USD.
Opinion Short Term
- Resistance 1 £1.15
- Support 1 £1.11
Opinion Medium Term
- Resistance 2 £1.16
- Support 2 £1.10
The MACD is negative and lower than its signal line. This configuration is damaging the cross perspectives. The RSI is not yet indicating an oversold situation, so a continuation of the fall is technically possible. The Stochastics indicators are not giving any clear signals for the coming days. The volumes traded are more than the average volumes over the last 10 days.
The cross is oriented to the downside. It is under its 50-day moving average located at 1.14. The 20-day moving average (lower than the 50-day moving average) is maintaining the prices under medium-term sell pressure. Our first support is at 1.11 USD and the next is at 1.1 USD; the resistances, located at 1.15 USD and at 1.16 USD must be exceeded for the trend to undergo a reversal.