EUR/GBP 4H Chart: Slight upside move still likely - Trade Pattern Ideas - Dukascopy Bank
Mon, 12 Aug 2019 05:41:00 GMT
Source: Dukascopy Bank SA
Indicator
4H
1D
1W
MACD(12;26;9)
Buy
Buy
Buy
RSI(14)
Sell
Sell
Sell
Stochastic(5;3;3)
Sell
Sell
Neutral
Alligator(13;8;5)
Buy
Buy
Buy
SAR(0.02;0.2)
Buy
Buy
Buy
Aggregate
⇒
⇒
⇗
The single European currency reversed from the bottom border of an ascending channel against the British Pound seven weeks ago. As a result, the currency pair had gained about 4.40% in value during this short period.
Most likely, the exchange rate might make a brief retracement down within this week's trading sessions. The possible target for bearish traders will be near the 100-hour simple moving average at 0.9095.
However, technical indicators flash buy signals on both the smaller and the larger time-frame charts. Therefore, the currency exchange rate might still make a slight upside movement in the coming days.
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