GBP/USD 4H: Channel Down

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Dukascopy Bank SA
A short term bearish pattern was formed by GBP/USD on June 17, when the pair started depreciating from 1.5752, currently trading at 1.5150. Even despite the fact the pair has been heading to the south during the last several weeks, further movement cannot be predicted unambiguously.
There are several reasons behind it: on the one hand aggregate technical indicators are sending either "sell" or "neutral" signals, while on the other market sentiment is pointing at the appreciation of the pair. Therefore, a movement in pattern's boundaries can be expected, however, a penetration of any trend line is unlikely in the nearest future.
© Dukascopy Bank SA
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