EUR/GBP 4H Chart: Channel Down

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Dukascopy Bank SA
Although the currency pair has been fluctuating within the boundaries of the bearish channel for nearly 400 bars, specifically respecting the lower edge, right now EUR/GBP is eroding this line. Potentially this may result in an accelerated sell-off down to the 2013 low at 0.8082, if the supports at 0.8262 (weekly S1) and at 0.8154 (weekly S3) fail to underpin the price.
Meanwhile, SWFX traders are undecided with respect to the pair, being that 47% of them are holding long positions and 53% are betting on the Sterling's outperformance. At the same time signals provided by the technical indicators are also mixed on all three relevant time-frames.
© Dukascopy Bank SA
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