An Ascending Channel chart pattern is present at the EUR\GBP, at 4-hour charts. Pattern's size is 130 pips. Can be also interpreted as a flag - indicating a movement down and a continuation of the down-movement. Trading rules remains the same for Channel as for Flag.
Trading
SHORT Trade will be signaled after price breaks down the Support trendline and performs a pullback.
Target
Calculate 130 pips lower than the breakout price - this is the projected target.
Source
http://www.chartsecret.com/content/analysis-channel-pattern-eurgbp
Trading
SHORT Trade will be signaled after price breaks down the Support trendline and performs a pullback.
Target
Calculate 130 pips lower than the breakout price - this is the projected target.
Source
http://www.chartsecret.com/content/analysis-channel-pattern-eurgbp
