| Indicator | 4H | 1D | 1W |
|---|---|---|---|
| MACD(12;26;9) | Buy | Sell | Buy |
| RSI(14) | Neutral | Neutral | Neutral |
| Stochastic(5;3;3) | Neutral | Neutral | Neutral |
| Alligator(13;8;5) | Buy | Neutral | Neutral |
| SAR(0.02;0.2) | Buy | Buy | Sell |
| Aggregate | ⇗ | ⇒ | ⇒ |
The Euro has been appreciating against the British Pound since the end of September after the EUR/GBP currency pair reversed north from the support level—the Fibonacci 61.80% retracement at 0.8810. Currently, the pair is testing the weekly R2 at 0.8997.
Note that the exchange rate is supported by the 55-, 100– and 200-hour moving averages, currently located in the 0.8908/0.8950 range. Therefore, it is likely that some upside potential could prevail in the market. A possible upside target is the Fibonacci 23.60% retracement at 0.9125.
However, note that the currency pair would have to surpass the Fibonacci 38.20% retracement at 0.9005. If the given resistance holds, the pair could reverse south and trade downwards within the following trading sessions.