| Indicator | 4H | 1D | 1W |
|---|---|---|---|
| MACD(12;26;9) | Sell | Buy | Buy |
| RSI(14) | Neutral | Neutral | Neutral |
| Stochastic(5;3;3) | Neutral | Buy | Sell |
| Alligator(13;8;5) | Neutral | Buy | Buy |
| SAR(0.02;0.2) | Buy | Sell | Buy |
| Aggregate | ⇒ | ⇗ | ⇗ |
The Euro has been appreciating against the British Pound since the beginning of May when the currency pair reversed north from the psychological level at 0.8500.
As apparent on the chart, the pair has already reached the upper boundary of the long-term descending channel at 0.8973. From a theoretical perspective, it is expected, that some downside potential could prevail in the market. In this case, the exchange rate could reach the monthly PP a the 0.8737 mark in the nearest future.
However, note, that the rate is supported by the 55-, 100– and 200-hour SMAs. Thus, if the given channel does not hold, the pair could maintain its growth. Important resistance level to look out for is the monthly R2 at 0.9121.