Analysis: Channel Pattern | EUR\GBP

Ascending Channel chart pattern at the EUR\GBP currency pair, with immense size - 130 pips. Pattern is at 4-hour chart. This is a very strong chart pattern that offers traders high-probability opportunities to trade. This one also can be interpreted as a Flag, as it is very narrow compared to previous long downtrend. Learn how to trade Channels here.

Trading
Enter SHORT trade after price breaks the Support trendline and performs pulls back to the Support level. Target is measured 130 pips down from the place of breakout (or pullback).