EUR/GBP 4H Chart: Confirms medium-term pattern

Source: Dukascopy Bank SA

Indicator 4H 1D 1W
MACD (12; 26; 9) Sell Buy Sell
RSI (14) Buy Neutral Neutral
Stochastic (5; 3) Sell Sell Sell
Alligator (13; 8; 5) Sell Buy Sell
SAR (0.02; 0.2) Sell Buy Sell
Aggregate

The common European currency has been bound in several long and medium-term patterns which have guided the currency pair lower since August 2017. 

When taking a look at the price movement, the pair's has been trading in a large-scale triangle which was formed in August. The Euro bounced off the lower boundary of a medium-term pattern on January 24 and has since surged against the Pound Sterling. 

Meanwhile, EUR/GBP is facing a support at the weekly pivot point near 0.8818. Also, it is important to point that technical indicators favour bearish movement.

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