EUR/GBP 4H Chart: Two scenarios likely - Trade Pattern Ideas - Dukascopy Bank
Thu, 02 Jan 2020 06:18:53 GMT
Source: Dukascopy Bank SA
Indicator
4H
1D
1W
MACD(12;26;9)
Sell
Sell
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
Buy
Buy
Aggregate
⇒
⇒
⇒
The common European currency bounced off from the lower boundary of a long-term descending channel against the British Pound on December 13. The currency pair has surged by 3.18% during this period.
Everything being equal, the EUR/GBP exchange rate will likely continue to trade in the long-term descending channel pattern during the following trading sessions. The pair could target the 0.8287.
On the other hand, bullish traders could drive the currency exchange rate towards the weekly R1 and the monthly R1 at 0.8603 during next week's trading sessions.
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