The descending triangle is formed in the downtrend and indicates the continuation of the downtrend. It is formed as a downward sloping triangle with support and a slope of lower highs. The support does not allow the prices of the securities to move more downward.

The support at 1.3000 looks firm (tested multiple times at 1.2980 – 1.3000 since mid-March). Given that Cable is in a downtrend and the descending triangle, I will be watching for the break and retesting of the support to go short. Downward bias should persist so long as the pair remains below 1.3150.
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Following up on my idea.

Price broke the support at 1.3000, shorted, and money is in the bag.
Chart PatternsTrend Analysis

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