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Symmetrical Triangles on EUR/GBP D1 — February 7th 2010

February 7, 2010 by

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 probable scenario as the pattern resolves. You can click the image below too see the full-scale chart of the currency pair:

If you have any questions or comments regarding this EUR/GBP chart pattern, please, feel free to reply via the form below.

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