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  • Vasily Trader

EURGBP: Contraction in Triangle. Your Plan (indecision)



EURGBP is consolidating from April.

The price action contracts and the price sets lower highs and equal lows.


The market is stuck within a descending triangle:

To catch a bullish move, wait for a bullish breakout of a falling trend line .

It will be a strong trigger.

Goal will be 0.87


To catch a bearish continuation, wait for a bearish breakout of horizontal support.

Goal will be 0.849


Because a long-term trend is bearish , I remain bearish biased.

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