EUR/GBP bulls likely to prevail

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

[ANNOUNCE]Since last week's trading sessions, the common European currency has surged by 99 pips or 1.16% against the British Pound. The currency pair tested the 0.8590 level on August 23.[/ANNOUNCE]

All things being equal, the exchange rate is likely to continue to edge higher in an ascending channel pattern during the following trading sessions. The possible target for the EUR/GBP pair will be near the 0.8640 area.

However, buyers could encounter resistance at the 0.8590 level during this week's trading sessions.

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