EURGBP 4H Channel Down topped. Drop expected.

The EURGBP pair has been trading within a Channel Down pattern below its 4H MA50 (blue trend-line) since the February 12 High. Technically that pattern is similar to the Channel Down of late January, which saw an accelerated decline after it failed to break above the 4H MA50.

We expect the pattern to complete a similar -2.18% decline and target 0.81750.

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