EUR/GBP – Running Triangle Pattern
EUR/GBP seems to be developing a Running Triangle in Minute IV (red) position, with its sub-wave Minuette (e) (pink) remaining and not yet finalized.
Should EUR/GBP reverse to the up-side in a ”three”, then the converging and the possible triangle connecting line from Minuettes (a) & (c) (pink) would be closely watched for possible sell set-ups.
Scenario would be invalidated if a sharp bearish move would occur beyond Minuette (b) of the Running Triangle.
This post represents a follow-up on for the previously posted “EUR/GBP – Bearish Intermediate (C)” view.
4H Chart (picture):
4H Interactive Chart:
2 Comments
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Richard
EUR/GBP Structure has changed to an Expanded Flat.
Watching closely the red trend-line for bullish continuation signs or direct bearish reversal.
Richard
Bullish Sequence in Minuette (c) (black) commenced.
0.9150 would be in focus for a Major Bearish SELL point.