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EUR/GBP 4H Chart: Two scenarios likely

Note: This section contains information in English only.
Source: Dukascopy Bank SA
Indicator4H1D1W
MACD(12;26;9)SellSellSell
RSI(14)NeutralNeutralNeutral
Stochastic(5;3;3)NeutralNeutralBuy
Alligator(13;8;5)NeutralSellSell
SAR(0.02;0.2)SellSellSell
Aggregate⇘⇘⇘

[ANNOUNCE]The common European currency has edged lower by 2.00% against the British Pound since January 11. The 50– period simple moving average has pressured the exchange rate lower during the last three weeks.[/ANNOUNCE]

As for the near future, the EUR/GBP currency pair is likely to continue to trend bearish. Bears could aim at the 0.8760 level during the following trading sessions.

However, given that the currency exchange rate is currently trading near the upper boundary of a descending channel pattern, a breakout might occur within this week's trading sessions.

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