EUR/GBP 4H Chart: Moving towards 50.00% Fibo - Trade Pattern Ideas - Dukascopy Bank
Thu, 01 Aug 2019 05:20:32 GMT
Source: Dukascopy Bank SA
Indicator
4H
1D
1W
MACD(12;26;9)
Buy
Buy
Buy
RSI(14)
Neutral
Neutral
Neutral
Stochastic(5;3;3)
Neutral
Neutral
Neutral
Alligator(13;8;5)
Buy
Buy
Buy
SAR(0.02;0.2)
Sell
Buy
Buy
Aggregate
⇒
⇗
⇗
The common European currency has appreciated about 3.06% in value since July 25. The currency pair reached August 31, 2018, high level at 0.9191 during this week's trading sessions.
As for the near future, it is likely that the EUR/GBP exchange rate could aim for a support level formed by the 50.00% Fibonacci retracement level at 0.9044.
If the support level holds, the currency exchange rate will continue its bullish momentum in the long-term future.
However, if the pair passes the 50.00% Fibo level, a decline towards a support cluster formed by the 55– and 100-hour SMAs at 0.9011 in the short term.
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