By: Dima Chernovolov EUR/GBP is moving inside the high Quality Down Channel chart pattern identified by Autochartist on the daily charts. Autochartist rates the overall Quality of this Down Channel at the 8 bar level as a result of the high Initial Trend and Clarity (both measured at the near maximum 9 bar level) and above average Uniformity (6 bars). The price has recently reversed up (at point D on the chart below) from the combined support made out of the lower support trendline of this Down Channel as well as the strong level of support 0.8300, which had previously revered the pair sharply up at the start of this year (as is shown on the third chart below). The pair is expected to rise further in the nearest time. As is shown on the following PowerStats chart, all of the daily Expected Price Range for EUR/GBP for tomorrow (from 0.8311 to 0.8413) stands above the support at 0.8300, which increases the likelihood that this currency pair will continue to rise tomorrow. The following weekly EUR/GBP chart shows previous price action close to the strong support at 0.8300: For further information on this and other Autochartist products visit www.autochartist.com