EUR/GBP 1H Chart: Channel Down

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Dukascopy Bank SA
Single currency is losing ground against the British Pound since September 22 when a channel down was formed. The pound has been moving in a strong uptrend during the last several weeks, and even though many analysts see a short retracement in the nearest future, aggregate technical indicators on hourly and 4H charts are suggesting EUR/GBP will continue moving to the south in  the short and medium term perspectives. In case bearish trend persists the pair will face a bunch of daily and weekly support between 0.8274 and 0.8333, hence a short period of consolidation can be expected. Moreover, 60% of positions are currently long. 

© Dukascopy Bank SA

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