EUR/GBP 1H Chart: Channel Up

Source: Dukascopy Bank SA
© Dukascopy Bank SA
Non greenback pairs remained immune to the market noise and continues to develop in the ranks of the patterns rather nicely. Although channels are not the most exciting pattern's, it is worth mentioning that in case of the Euro-pound we have a pattern whose quality is quite above the average and magnitude of 90%. This suggests that traders could expect returns from the pair movement from the pattern's resistance to the support and volatility and gain of momentum when it breaches the pattern's boundaries.

© Dukascopy Bank SA
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