RLinda ! EURGBP-> Triangle pattern. What's next?

EURGBP reacts strongly to the news. Almost a year and a half we have seen a kind of "standing still". The price traded in the range between 0.8770 - 0.8330. In the middle of September the currency pair, under the news pressure, formed an ascending impulse, thus breaking the resistance, reaching the level of 0.9275.
תמונת-בזק
In the phase of formation of the technical rollback from the top at 0.9275 we see a stop of the price in the area of 0.8649 and the formation of a local uptrend, near the support of which the pattern "Triangle" is formed.

This pattern forms an accumulation, foreshadowing further impulse in one direction or the other.
תמונת-בזק
Which way should we wait for the impulse?
  • The trend is ascending and after the correction in the area of 0.8649, the price forms a local uptrend channel, which coincides with the trend
  • The price has also tested the channel support.
  • There are all the chances of breakdown of the triangle resistance and price growth
  • Short-term target - resistance 0.8863, medium-term target - liquidity zone 0.8970


Regards R. Linda!
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