💱EURGBP - symmetrical triangle. What's next?

11 בספט׳ 2023

EURGBP is forming consolidation. Two scenarios can develop in relation to the symmetrical triangle: breakout of resistance or support

TA on the high timeframe:
1) A bearish trend is formed. The price forms a pre-breakout consolidation around 0.85200
2) False breakout of liquidity area, price may reach 0.85300 area in the nearest future.

TA on the low timeframe:
1) Symmetrical triangle, price bounces off resistance and may soon test support at 0.85300 area
2) A rebound from support is also likely.
3) It is actually difficult to trade inside triangles. It is best to wait for a breakout of one of the boundaries and open a trade in the direction of the breakout

Key support📉: 0.85300
Key resistance📈: 0.86000