Hello All!
EURGBP is moving very strange and we can see it's in a triangle pattern on the current 4hour timeframe. From the weekly timeframe we can see this could be accepted as a lower high, let's say third tap.
Yet I don't like the current price action, it's not convincing. A triangle in an uptrend is normally bullish, so we will wait for a break either way. Will we break the weekly trendline or will we respect it and break the triangle down?
You can view the weekly chart below for your reference:
Only price action will tell...
Good luck!
EURGBP is moving very strange and we can see it's in a triangle pattern on the current 4hour timeframe. From the weekly timeframe we can see this could be accepted as a lower high, let's say third tap.
Yet I don't like the current price action, it's not convincing. A triangle in an uptrend is normally bullish, so we will wait for a break either way. Will we break the weekly trendline or will we respect it and break the triangle down?
You can view the weekly chart below for your reference:
Only price action will tell...
Good luck!