| Indicator | 4H | 1D | 1W |
| MACD (12; 26; 9) | Buy | Sell | Sell |
| RSI (14) | Neutral | Neutral | Neutral |
| Stochastic (5; 3) | Neutral | Neutral | Neutral |
| Alligator (13; 8; 5) | Buy | Sell | Sell |
| SAR (0.02; 0.2) | Buy | Sell | Sell |
| Aggregate | ⇗ | ⇘ | ⇘ |
The Euro has depreciated substantially against the Pound Sterling since early March. This bearish movement was stranded in a descending channel. The pair was consolidating near the senior channel for a brief period of time last week prior to breaching the junior pattern and surging up to the weekly R1 at 0.8720.
Even though the medium-term pattern was breached yesterday, technical indicators nevertheless remain bearish for the following day and week. A possible downside target in this case is the senior channel at 0.86. In order to confirm this scenario, the Euro still has to overcome the combined support of the 200-, 55– and 100-hour SMAs and the weekly PP circa 0.8680.
On the other hand, the rate could rebound from the breached channel and the 200-hour SMA and surge even higher within this week. A strong resistance that could halt this surge is provided by the 50.0% Fibonacci retracement and the monthly PP circa 0.88.