GBP/HKD 4H Chart: Channel Up

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) Sell Buy Buy
SAR (0.02; 0.2) Sell Sell Buy
Aggregate

The British Pound is advancing against the Hong Kong Dollar in a supposed medium-term ascending channel.  

Formation of the presumed pattern began in the end of July, which means that by now it consists of two reaction highs and one reaction low. 

However, a number of indicators suggest that the second reaction low might appear in the nearest future. 

On the one hand, the rate is moving in a junior descending channel and faces pressure from the monthly R1 and the weekly PP. 

But on the other hand, the pair is approaching the 200-hour SMA, which is moving precisely along the lower line of the senior formation. If the above assumption is true, these two indicators should create a support strong enough to force the rate to make a rebound.

Actual Topics

Subscribe to "Fundamental Analysis" feed

Subscribe
To learn more about Dukascopy Bank CFD / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
For further information regarding potential cooperation,
please call us or make callback request.
To learn more about Dukascopy Bank Binary Options / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
Chcete-li se dozvědět více o platformě Dukascopy Bank CFD / Forex, SWFX a dalších souvisejících obchodních informacích, prosím, zavolejte nám, nebo vám můžeme zavolat my.
To learn more about Crypto Trading / CFD / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
To learn more about Business Introducer and other trading related information,
please call us or make callback request.
For further information regarding potential cooperation,
please call us or make callback request.