The 4H EUR/GBP chart shows a bearish market that has been consolidating for a couple of weeks within a channel that has a slight bullish tilt. This “channel” can be interpreted as a flag pattern within a strong bearish trend. Price has been sticky around the 0.80 area, but if EUR/GBP holds south of 0.80 to close the week, traders will be focusing on a flag breakout scenario. A break below 0.7980 opens up the bearish continuation scenario. The moving averages in the 4H chart (200-, 100-, 50-), are in bearish alignment. During this 2-week flag pattern price pushed above the 50-SMA, but held below the 100-SMA, not even ... (full story)