EUR/GBP 1H Chart: Short-term decrease expected

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

The Euro has been depreciating against the British Pound since the beginning of 2019. This movement has been bounded in the falling wedge pattern.  

As apparent on the chart, the currency pair has already reversed south from the upper wedge line at 0.8708. It is expected that the exchange rate targets the lower pattern boundary located circa 0.8450. If given pattern does not hold, it is likely that a breakout south occurs within the following sessions. Potential downside target is the monthly S2 at 0.8337. 

Otherwise, the pair reverses north and continues to trade within given wedge.

Actual Topics

Subscribe to "Fundamental Analysis" feed

Subscribe
Pre viac informácií o Dukascopy Bank CFD / Forex obchodných platformách a ostatných záležitostiach
nás prosím kontaktujte alebo požiadajte o hovor od nás.
For further information regarding potential cooperation,
please call us or make callback request.
To learn more about Dukascopy Bank Binary Options / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
Pre viac informácií o Dukascopy Bank CFD / Forex obchodných platformách a ostatných záležitostiach
nás prosím kontaktujte alebo požiadajte o hovor od nás.
To learn more about Crypto Trading / CFD / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
To learn more about Business Introducer and other trading related information,
please call us or make callback request.
For further information regarding potential cooperation,
please call us or make callback request.