Since around 19:00 UTC (16.10.2012) a harmonic tremor pulse has been taking place in Hamarinn volcano (Bárðarbunga volcano). There is in my view no eruption taking place at the moment. This is most likely a dike intrusion of magma somewhere in the area of Hamarinn volcano. That might however trigger an eruption. But we just need to wait and see on that for the time being. This activity is interesting, as there was a small eruption in this area in July 2011.
The harmonic tremor pulse is strongest on this SIL station. But it is weak regardless. The signal suggest this event is taking place close to this SIL station location. Copyright of this image belongs to Icelandic Meteorological Office.
The harmonic tremor pulse can be seen at the end of the above SIL station traces. The harmonic tremor pulse is higher then normal background noise (wind, ocean waves, human traffic, etc) on the SIL station. I do not expect this to be noise. The signal is too strong for that. It also hard to travel in this part of Iceland in October due to bad weather and difficult conditions in the high areas of Iceland.