EUR/GBP 1H Chart: Channel Down

Source: Dukascopy Bank SA
© Dukascopy Bank SA
EUR/GBP is prolonging its three-month decline that has already pushed the pair to a two-year low of 0.7925 that lies on the lower trend-line of the latest formation shaped by the instrument– channel down pattern.
Now the pair is sitting at the recent low and considering the SWFX sentiment – 67% of all orders are placed to sell the currency couple– EUR/GBP may hit fresh record lows in the hours to come. Supporting this, technical indicators send a bearish signal for short-term but are neutral for a longer term.
© Dukascopy Bank SA
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