EUR/GBP 1H Chart: Double Top

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Dukascopy Bank SA
EUR/GBP has formed a double top, meaning the risks are skewed to the downside. The bearish outlook is also confirmed by the technical indicators. However, for the time being demand at 0.7160 is able to withstand the selling pressure, being that the neck-line is reinforced by the weekly pivot point. Still, if there is a close beneath this level, there should be a 60-pip deep decline (the distance between Jul 8 high and Jul 9 low). Alternatively, in case the current rally develops further, the target will be 0.7224, where we will expect the price to top out, form a third peak in a row and then re-test the recent lows. At the same time, the sentiment in the market is bearish, as 61% of positions are short.
© Dukascopy Bank SA
Back to articles

Actual Topics

Mon, 13 Jul 2015 06:37:04 GMT

GBP/AUD 4H Chart: Rising Wedge

Although previously it seemed as if GBP/AUD has been trading within a bullish channel, now there are well-grounded concerns that we observe formation of a rising wedge. The trading range of the currency pair started to narrow, and instead of two parallel trend-lines the peaks and lows are connected by two converging lines, which implies an increasing chance of a

Fri, 10 Jul 2015 14:50:06 GMT

EUR/GBP 4H Chart: Channel Down

The Euro is still trading inside the boundaries of the channel down pattern against the British Pound, even though the exchange rate has somewhat rebounded in the past several weeks. Moreover, the EUR/GBP is currently approaching the upper trend-line of the pattern, which is still strengthened by this week's resistance, namely the weekly R2 at 0.7279. The short-term outlook is

Subscribe to "Fundamental Analysis" feed

Subscribe
To learn more about Dukascopy Bank CFD / Forex trading platform, SWFX 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.
To learn more about Dukascopy Bank Binary Options / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
Chcete-li se dozvědět více o platformě Dukascopy Bank CFD / Forex, SWFX a dalších souvisejících obchodních informacích, prosím, zavolejte nám, nebo vám můžeme zavolat my.
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.