EUR/GBP 4H Chart: Descending Triangle

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Dukascopy Bank SA
It seems worth examining the descending triangle pattern formed by EUR/GBP one more time as several pair's attempts to break out of the pattern in both directions proved to be unsuccessful.
Now the pair is trading below the pattern's support line at 0.8241, albeit slightly, raising the question whether the breakout is real. Some factors like proximity of the apex signalize that this time the pair might have performed a real breakout. Furthermore, almost 65% of all orders are placed to sell the pair, while technical data signals weakness in the medium term.
© Dukascopy Bank SA

Actual Topics

Subscribe to "Fundamental Analysis" feed

订阅
欲了解更多有关杜高斯贝银行差价合约/外汇交易平台,SWFX和其它相关交易详情,
请致电我们或要求回电。
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.
欲了解更多有关杜高斯贝银行差价合约/外汇交易平台,SWFX和其它相关交易详情,
请致电我们或要求回电。
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.