| Indicator | 4H | 1D | 1W |
|---|---|---|---|
| MACD(12;26;9) | Buy | Sell | Sell |
| RSI(14) | Sell | Neutral | Buy |
| Stochastic(5;3;3) | Sell | Neutral | Buy |
| Alligator(13;8;5) | Buy | Sell | Sell |
| SAR(0.02;0.2) | Buy | Buy | Sell |
| Aggregate | ⇒ | ⇒ | ⇒ |
The common European currency has surged by 1.41% against the British Pound since the beginning of this week. The currency pair breached the upper boundary of a descending channel pattern during yesterday's trading sessions.
All things being equal, the EUR/GBP exchange rate is likely to continue to trend bullish during the following trading sessions. The potential target for buyers will be near the 0.8640 level.
However, a resistance cluster formed by the weekly R2 and the 200– period simple moving average at 0.8587 could provide resistance for the currency exchange rate within this week's trading session.