EUR/GBP 4H Chart: Channel Down

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 Sell
Stochastic (5; 3) Sell Sell Sell
Alligator (13; 8; 5) Neutral Buy Buy
SAR (0.02; 0.2) Buy Sell Buy
Aggregate

Recent developments on the EUR/GBP currency exchange rate have pressed for a review of the pair. The review is being done, to map the larger scale situation, which previously was not fully accounted for. 

It can be noticed that the recent decline of the Euro is a part of a speculated channel down pattern. The reason for it still being theoretical is the fact that the upper trend line has not been confirmed.

The pattern is the next one in line to guide the pair's movements in the medium term. It is most likely going to retreat down to the weekly S1 at 0.91 mark and await there until it meets the support of the dominant ascending pattern.

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