HomeContributorsTechnical AnalysisEUR/GBP 4H Chart: Breaks Support

EUR/GBP 4H Chart: Breaks Support

The situation on the EUR/GBP has not changed. There is no real need to change the already drawn medium and large scale patterns. Although, there is a reason why a review is done.

The currency exchange rate has broken the support of a long term channel up pattern. The passing of the support was already expected, as the pair had bounced off the resistance of a more dominant channel down pattern.

Meanwhile, in regards to the short term one can observe that the pair is being kept flat by the weekly PP and will likely remain so until the resistance of the medium scale channel down pattern will force it

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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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