EUR/GBP 1H Chart: Channel Down

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Dukascopy Bank SA
A decline has been observable since August 23 when it reached a two-week high of 0.8653; however, a formation of the channel down pattern started only on September 6 when the pair hit its seven-month low of 0.8393, the level close to which the pair is trading now. The overall outlook remains gloomy, with 63.24% of traders betting on further depreciation of the pair. However, technical indicators are sending bullish signals in the short-term and are neutral in the medium-term. At the same time, technical indicators bolster bearish outlook in the longer-term.
© Dukascopy Bank SA
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