GBP/USD 4H Chart: Channel Down

Discussion in 'Forex Trading Signals & Forecasts' started by Sandra S., Jan 19, 2016.

  1. Sandra S.

    Sandra S. Forum Member

    Sep 1, 2015
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    EUR/GBP 1H Chart: Channel Up Comment: The British Pound is weakening across the board, giving the Euro a good opportunity to outperform it. The main reason to be bullish the common currency, however, is the fact that the pair has recently established an ascending channel, and at the moment it is near the lower boundary of the pattern. In addition, the four-hour indicators are giving ‘buy’ signals and the market is overcrowded with bears (65% of positions are short). Consequently, we expect the

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