EUR/GBP 4H Chart: Meets dominant resistance

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

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

The EUR/GBP pair is up for another review. However, nothing has changed much on the charts. Due to that reason this review concentrates more on the events in the borders of the previously drawn patterns. 

The pair recently reached the upper trend line of a dominant channel down pattern. The move was expected and it resulted in a bounce off, that has guided the pair lower. Most recently the currency exchange rate reached the combined support of the weekly R1 and the 200-period SMA near the 0.89 mark. 

In the short term it can be expected that the pair will rebound and move for the resistance cluster near the 0.8940 level.

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