EUR/GBP 4H Chart: Highly volatile

Note: This section contains information in English only.
Source: Dukascopy Bank SA

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

The common European currency, as it was expected, broke the junior channel down pattern against the Pound. However, since the last review, more developments have taken place. 

First of all the currency exchange rate has revealed a medium term channel up pattern. The channel is very wide, and this volatility is excellent for short term traders that would like to cash in on larger moves. 

Most recently the pair bounced off the lower trend line and the 50.00% Fibonacci retracement level near the 0.8820 mark. Due to that reason Dukascopy analysts forecast a surge through various resistance levels up to the 0.8930 level.

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