| Indicator | 4H | 1D | 1W |
|---|---|---|---|
| MACD(12;26;9) | Sell | Buy | Sell |
| RSI(14) | Buy | Neutral | Neutral |
| Stochastic(5;3;3) | Buy | Neutral | Neutral |
| Alligator(13;8;5) | Sell | Neutral | Sell |
| SAR(0.02;0.2) | Sell | Sell | Buy |
| Aggregate | ⇒ | ⇒ | ⇒ |
The common European currency has edged lower by 120 pips or 1.38% against the British Pound since May 1. The currency pair breached the 50– and 200– period SMAs during this week's trading sessions.
Everything being equal, the exchange rate could continue to edge lower during the following trading sessions. The potential target for bearish traders could be near the 0.8400 level.
However, the weekly support level at 0.8550 might provide support for the EUR/GBP currency exchange rate in the shorter term.