EUR/GBP 1H Chart: Channel Down

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Dukascopy Bank SA
The second week of February brought weakness to EUR/GBP that rallied in the first days of the month. The downside pressure was heavy enough not only to stop the pair's advance but also to force the pair to shape a steep channel down pattern.
Having dived to a one-year low of 0.8158 four hours earlier, the pair managed to recover slightly and bounce off the level of 0.8159 (daily S1) and now is sitting less than 10 pips above this line. In the hours to come, the Euro is likely to prolong its losing streak versus the British Pound as over 65% of all orders are placed to sell the pair.
© Dukascopy Bank SA
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Mon, 17 Feb 2014 07:42:48 GMT

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