EUR/GBP 1H Chart: Channel Up

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Dukascopy Bank SA
Having hit a four-month high of 0.8402 in mid-March, EUR/GBP commenced a three-week decline that took it to a one-month low of 0.82316. After that, the currency couple reversed its trend and embarked upon formation of the channel up pattern, within which it is fluctuating at the moment.
Now the pair is sitting at the 200-hour SMA at 0.8265 that represents a formidable resistance. Considering the SWFX sentiment, the pair is not likely to overcome this ceiling and may even retreat in the foreseeable future; almost 60% of traders bet on depreciation of the pair.
© Dukascopy Bank SA
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