EUR/GBP 4H Chart: Channel Up

Pair has been very volatile in the most of the pattern's length, but is showing much more smoother trading sessions lately. After a prolonged move along the pattern's support pair reached pattern's resistance in the course of 3 days and at the moment is trading out the recent rebound from it. It might be that we will see the pair trading sideways since short and medium term technicals do not provide clear aggregate readings. However, medium term stochastic predicts a sell off of the pair. In such case daily pivots do not seems to be able to provide strong support and we should expect a smooth move till 100-day SMA.