GBP/USD 4H Chart: Channel Down

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Source: Dukascopy Bank SA
© Dukascopy Bank SA
The Cable will shortly approach the upper edge of the channel down pattern, meaning we are likely to observe some selling pressure near 1.43. One more bullish obstacle is represented by the 200-period SMA at 1.4267. According to the 4H technical indicators, the latter resistance is unlikely to contain the purchasing activity, while some weakness is estimated on daily and weekly bases. However, SWFX market sentiment is 56% long at the moment, meaning we are not ruling out a spike above 1.4345 where the upper trend-line is located right now. However, to confirm the pattern to the upside the Pound Sterling should also eliminate the first monthly supply at 1.4446, followed by weekly R2 at 1.4518.
© Dukascopy Bank SA
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Mon, 07 Mar 2016 09:04:59 GMT

GBP/JPY 4H Chart: Channel Down

The Pound is moving in a similar direction versus the Japan's currency, as it is doing against the Greenback. In the foreseeable future we expect GBP/JPY to test the 200-period SMA at 164.79, but only in case the bulls are successful in dealing with the monthly pivot point at 162.21, which is the immediate resistance for this cross. Development to

Fri, 04 Mar 2016 14:39:14 GMT

CHF/JPY 4H Chart: Channel Down

Even within the channel down pattern, the Swiss currency is going up at the moment. The pair is somewhat stuck around the monthly PP at 114.75, which is reinforced by the weekly R1 from above. By eliminating this resistance, CHF/JPY will pave the way for a rally up to the 200-period SMA at 115.79, followed by the weekly R2 and

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