Forex Trendline And Channel Patterns – All You Need To Know The Channel chart pattern is a continuation pattern that is generated by the intersection of two lines. This pattern has a name that refers to its shape, which is a channel. These two lines are written on the price chart in a manner that resembles a channel since they are parallel to each other and run in the same direction. The resistance line of the channel is the line that is located at the top of the channel, while the support line is located toward the bottom of the channel. When a channel is moving in an upward direction by forming higher highs and higher lows, this type of channel is known as the bullish channel or Ascending channel. 2 EURGBP is rebounding from the higher low area of the Ascending channel On the other hand, when a channel is moving in a downward direction by forming lower highs and lower lows, this type of channel is known as the bearish channel or descending channel. EURUSD Daily moving in descending c...