Tue, Dec 01, 2020 @ 05:30 GMT
Home EUR/GBP 4H Chart: Two Scenarios Likely

EUR/GBP 4H Chart: Two Scenarios Likely

The common European currency has been trading in a one-month descending channel pattern against the British Pound. The currency pair tested the 0.9000 mark during last week’s trading session.

Currently, the exchange rate is trading near the upper line of the one-month descending channel and could be set for a breakout.

If the breakout occurs, a surge towards the 0.9200 level could be expected during the following trading sessions.

However, if the channel pattern holds, bears would continue to dominate the currency exchange rate within this week’s trading sessions.

Dukascopy Swiss FX Grouphttp://www.dukascopy.com/
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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