Note: This section contains information in English only.A rising wedge on the hourly chart confirms the bearish formation on the daily chart which, while unidentifiable, suggests that a trend-line will push the pair down sometime soon. EUR/GBP has been sticking to the bottom boundary of the pattern and has showed it troublesome to reach for the upper trend-line one more time. 0.8575 could be the area where the pattern breaks in a few hours and we will then look for a retracement followed by a major downfall that could continue for a couple of weeks. The lower boundary is strengthened by several other indicators, but the next support rests 0.8549, from which a retracement might be executed.
Fri, 03 Mar 2017 07:29:45 GMT
Source: Dukascopy Bank SA