Currency is sandwiched between the moving averages with periods of 89 and 144 (support levels 1.5850 and 1.5720) on the one hand and middle periods of 34 and 55 (resistance levels 1.5900 and 1.5925) on the other.MACD histogram is located in the negative zone and below its signal line, but moves almost parallel to the axis of time and is not currently send a clear signal.
Stochastic Oscillator is on the border oversold and just does not generate clear signals.
The absence of clear signals, leads us to the fact that the most correct decision now - to stay out of the forex market and focus on the next strong support and resistance levels.
There are two options:
1. Break of 1.5880/90 resistance level and the growth of the pound to levels of 1.5950 and 1.5980.
2. Break of 1.5830/20 support level and lower quotes to the levels 1.5780 and 1.5740.
Resistance levels: 1.5880/90, 1.5925, 1.5940/50, 1.5980, 1.6000/10
Current Price: 1.5870
Support levels: 1.5850, 1.5830/20, 1.5800, 1.5780, 1.5740, 1.5710/00
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