GBP/USD 1H Chart: Channel Down

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Dukascopy Bank SA
GBP/USD undertook ascension to almost a ten-month high of 1.6261 reached on October 1. However, this altitude appeared to be hard to consolidate at and the British Pound succumbed to the heavy selling pressure.
On October 4, GBP/USD started to form a channel down that represented a relatively narrow corridor bounded by two steep downward-sloping lines. The pair is expected to prolong its decline, with 55.94% of traders holding short positions. Technical indicators are mixed, predicting an advance in the short-term and a decline in the medium term.
© Dukascopy Bank SA
Back to articles

Actual Topics

Fri, 11 Oct 2013 06:54:51 GMT

USD/ZAR 1H Chart: Channel Down

A channel down pattern formed by USD/ZAR on October 3 has lasted for 108 hours and may continue to add selling pressure on the pair. Currently, USD/ZAR is vacillating below its daily pivot point sitting at 9.9357, with 200-and 50-hour SMAs meandering above the pair. Market participants believe the pair is likely to retreat in the foreseeable future, placing orders

Fri, 11 Oct 2013 06:54:33 GMT

USD/CHF 1H Chart: Channel Up

A decline from a two-month high to a four-month low reached on October 3 alleviated selling pressure, giving the U.S. Dollar impetus for a gradual increase versus its Swiss counterpart. The pair neared but did not break the pattern's resistance for several times and now is trading not far away from a three-week high of 0.9132. The bullishness of the

Subscribe to "Fundamental Analysis" feed

Subscribe
Per scoprire di più sulla piattaforma di Dukascopy Bank per Forex/CFD, sul SWFX ed altre informazioni relative al trading,
la preghiamo di contattarci o richiedere di essere contattato (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.
Per scoprire di più sulla piattaforma di Dukascopy Bank per Forex/CFD, sul SWFX ed altre informazioni relative al trading,
la preghiamo di contattarci o richiedere di essere contattato (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.