GBP/USD 4 Chart: Channel Down

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Dukascopy Bank SA
During more than six months ended in mid-February, the British Pound was appreciating versus its U.S. counterpart and on February 17 the pair hit a five-year high of 1.6828 that became a starting point of a long-lasting decline. The drop has been mostly developing in the channel down pattern started in the very end of the winter.
Currently, GBP/USD is trading below the 50-hour SMA at 1.6608. Meanwhile, traders and technical data fail to provide any hint on the future trend of the pair. The SWFX data shows that the proportion of long to short orders is almost 1:1, while technical indicators are sending mixed signals.
© Dukascopy Bank SA
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