| Indicator | 4H | 1D | 1W |
| MACD (12; 26; 9) | Sell | Sell | Buy |
| RSI (14) | Neutral | Neutral | Neutral |
| Stochastic (5; 3) | Sell | Neutral | Sell |
| Alligator (13; 8; 5) | Sell | Sell | Buy |
| SAR (0.02; 0.2) | Buy | Sell | Sell |
| Aggregate | ⇘ | ⇘ | ⇒ |
The EUR/GBP exchange rate has been guided by several patterns. The senior one is a six-month descending channel whose upper boundary at 0.8960 was tested on March 7. The pair has subsequently edged lower down to the 0.8785 mark where it was located at the time of this analysis.
The Euro should continue depreciating against the Sterling in line with the senior channel down to its bottom line near 0.8680. In order to confirm this bearish scenario, the rate still needs to breach the combined support of the weekly S2 and the monthly S1 at 0.8750.
If looking at the northern barrier, the pair faces a strong resistance cluster up until the 0.8880 area. It is unlikely that bulls overcome it so easily, thus allowing bears to dominate the market for some sessions. Technical indicators demonstrate that this price decline is likely to allay after one week somewhere near the senior channel.