The common European currency has recently had a very sharp appreciation against the Sterling, as the currency exchange rate has formed a rising wedge pattern. The pattern has guided the currency pair through the resistances put up by two notable Fibonacci retracement levels, which have only managed to hinder the Euro's surge. The Fibonacci retracement levels are measured by connecting the 2016 and 2017 low level with the 2016 high level. It is most likely that the currency pair will continue the surge until it reaches the resistance put up by the 50.00% Fibonacci retracement level, which is located at the 0.8832 level.
| Level | Rationale | Indicator | 4H | 1D | 1W | |||
| R4 | 0.8832/46 | 50.00%; monthly R3; weekly R2 | MACD (12; 26; 9) | Buy | Buy | Buy | ||
| R3 | 0.8789 | Weekly R1 | RSI (14) | Neutral | Sell | Neutral | ||
| R2 | 0.8751 | Trend line | Stochastic (5; 3; 3) | Sell | Sell | Sell | ||
| R1 | 0.8710/18 | 38.20% Fibo; monthly R2 | ADX (14) | Buy | Buy | Neutral | ||
| S1 | 0.8695 | Weekly PP | CCI (14) | Neutral | Sell | Neutral | ||
| S2 | 0.8676 | Trend line | AROON (14) | Buy | Buy | Buy | ||
| S3 | 0.8638/31 | Weekly S1; 55-period SMA | Alligator (13; 8; 5) | Buy | Buy | Buy | ||
| S4 | 0.8567/44 | Mon R1; 23.60% ; 100-p SMA; week S2 | SAR (0.02; 0.2) | Buy | Buy | Buy | ||
| Aggregate | ↗ | ↗ | ↗ |