GBP/USD 4H Chart: Channel Down

Source: Dukascopy Bank SA
© Dukascopy Bank SA
GBP/USD remains bearish since the second week of July and is likely to stay that way for foreseeable future, given that it is trading between two parallel downward-sloping lines. At the moment, the currency pair is hovering above the major level at 1.6500, which has not been breached since March 2014. That, of course, makes this level significant. And if the pair's bears fail to drag the Pound below this level then a rebound towards 1.66 might be expected. Moreover, since the bulls are in majority (56.02%) this scenario is rather likely. However, if the pair slides below the 1.65 level then the bearish channel is likely to stay in effect.
© Dukascopy Bank SA
Back to articles

Actual Topics

Tue, 02 Sep 2014 13:13:04 GMT

EUR/USD 1H Chart: Channel Down

The EUR/USD pair has been hovering to the south during the past 286 hours, as it has successfully formed the bearish channel on an hourly chart. The present trading level is located at 1.3114, just below the very considerable resistance level of 1.3417/27, represented by four-hour R2 and R3, daily pivot point and 50-hour SMA. At the same time, despite

Tue, 02 Sep 2014 08:00:10 GMT

EUR/PLN 1H Chart: Descending Triangle

The pair failed to reach the 4.24 level at the end of August, as it entered consolidation phase , being supported around the 4.2050 mark. Even though the pair is trading near the triangle's apex the technical indicators are not giving clear signals, as they are neutral. Although, an overwhelming majority (70.75%) of the traders expect the pair to decline.

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.
To learn more about Dukascopy Bank CFD / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
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.