Descending channel on EUR/GBP

Descending channel on EUR/GBP

During recent sessions, the bearish sentiment has been prevailing on the EUR/GBP currency pair. The current technical pattern indicates a continuation of the downward trend. At the moment on the hourly chart a pronounced descending channel, which signals a further fall in the EUR/GBP quotations, was formed. The price is testing a local support level of 0.88500. We recommend you to pay attention to this situation.

If the price fixes below 0.88500, you need to look for entry points to the market to open short positions. The closest target for fixing profit is the level of 0.88100. The movement is tending to 0.87800-0.87450. When tracking the position, we recommend using a trailing stop.

by JustForex, 2018.02.20

Este artículo representa una opinión personal y no debe interpretarse como un consejo de inversión, y/u oferta, y/o una petición persistente para llevar a cabo transacciones financieras, y/o una garantía, y/o un pronóstico de eventos futuros.

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