EUR/GBP 1H Chart: Rising Wedge

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Dukascopy Bank SA
The single currency was resilient to recent slew of mixed data and continued its climb against the British Pound. On October 17, the currency pair started formation of the rising wedge pattern that took the pair to a two-month high reached on October 29. However, the jump proved to be too arduous for the Euro and the Eurozone currency came off this peak to target the lower boundary of the pattern. Now EUR/GBP is trading below the pattern limit and absence of any movement to the north in the following hours would suggest a bearish breakout that would push the pair sharply lower.
© Dukascopy Bank SA
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Thu, 31 Oct 2013 07:46:04 GMT

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