The day chart of EUR/GBP pair is currently in a descending channel formation.
The pair was in a long rectangle pattern formation(sideways) and then broken.
But it immediately faces the trendline of downchannel and so it is possible for the pair to exert selling pressure in this price zone.
If sideways breakout becomes a fakeout, then a good downward move is possible.
The pair was in a long rectangle pattern formation(sideways) and then broken.
But it immediately faces the trendline of downchannel and so it is possible for the pair to exert selling pressure in this price zone.
If sideways breakout becomes a fakeout, then a good downward move is possible.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.