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EUR/GBP 4H Chart: Likely To Maintain Channel

The common European currency has declined by 2.23% against the British Pound since February 4. The currency pair has continued to trade in a three-month descending channel pattern.

Everything being equal, the exchange rate is likely to continue to edge lower in the three-month descending channel pattern during the following trading sessions. The EUR/GBP pair could target the 0.8500 level.

However, the weekly support level at 0.8606 could provide support for the currency exchange rate in the shorter term.

Dukascopy Swiss FX Group
This overview can be used only for informational purposes. Dukascopy SA is not responsible for any losses arising from any investment based on any recommendation, forecast or other information herein contained.

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