Day: April 11, 2010

EUR/GBP Consolidates Inside Symmetrical Triangles

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 case, but it’s better to wait for the clear signal. The price is quite close to the triangle’s apex, suggesting that […]