With the movement of the EUR/GBP price on its 4-hour chart moving above the WMA (21) which has a slope that is going upwards and the appearance of convergence between the EUR/GBP price movement and the Stochastic Oscillator indicator, it gives an indication that in the near future EUR/GBP has the potential to strengthen up to the level of 0.8578 as its main target and if the volatility and momentum of its strengthening support it, then 0.8611 will be the next target, but if on its way to the target levels it suddenly weakens down to break through and closes below the level of 0.8492, then all the strengthening scenarios that have been described will be invalid and automatically canceled by themselves.
(Disclaimer)
