EUR/GBP 4H Chart: Breakout could occur

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

[ANNOUNCE]The common European currency has surged by 124 pips or 1.40% against the British Pound since September 1. The currency pair breached 50– and 100– hour SMAs during this period.[/ANNOUNCE]

Currently, the exchange rate is trading near the upper boundary of a descending channel pattern. If the channel pattern holds, bearish traders could pressure the EUR/GBP pair lower within this week's trading sessions.

However, if the currency exchange rate breaks the descending channel pattern, a surge towards the 0.9000 level could be expected this week.

Actual Topics