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An almost perfect symmetrical triangles pattern has formed on the EUR/GBP weekly chart recently. The consolidation is clearly visible and follows the previous uptrend that has ended in December 2008. A breakout from this pattern may signal a beginning of the next long-term trend. A continuation breakout (bullish) is more probable in this …

EUR/GBP formed a symmetrical triangles pattern on the daily chart near the end of this week. Although the pattern isn’t aligned horizontally to count as reliable, the price is currently located near the apex of the triangles and may break out of it soon. Since this is a continuation pattern, expect a bearish trend continuation as the most …