| Indicator | 4H | 1D | 1W |
|---|---|---|---|
| MACD(12;26;9) | Buy | Buy | Sell |
| RSI(14) | Neutral | Neutral | Neutral |
| Stochastic(5;3;3) | Neutral | Sell | Neutral |
| Alligator(13;8;5) | Buy | Buy | Sell |
| SAR(0.02;0.2) | Buy | Buy | Sell |
| Aggregate | ⇗ | ⇗ | ⇘ |
The Euro has been appreciating against the British Pound since the end of March, when the currency pair reversed north from the psychological level at 0.8500.
As apparent on the chart, the pair has already reached the upper boundary of the medium-term descending channel at 0.8680. From a theoretical perspective, the pair should reverse south and target the monthly S1 at 0.8480.
On the other hand, given that the exchange rate is supported by the 55-, 100– and 200-hour SMAs, a breakout north could occur in the nearest future. In this case, the rate could jump to the monthly R1 at 0.8731.