💱 EURGBP - An ascending triangle could strengthen the price
EURGBP continues to form an uptrend. consolidation appears on the chart near strong resistance
Prerequisites:
1) Retest of 0.87345 resistance, no downside after false breakdown
2) Another retest is forming
3) The ascending triangle shows bullish potential.
4) There is upward support in the market, accumulation in volumes
5) Consolidation under the level and the price continues to approach the level - this is done in order to use the minimum volume to break the resistance, and all the remaining volume to direct to growth
6) I expect resistance breakout. A small correction is possible before a further breakout.
Key support: 0.87000
Key resistance: triangle line and 0.87345 level
Prerequisites:
1) Retest of 0.87345 resistance, no downside after false breakdown
2) Another retest is forming
3) The ascending triangle shows bullish potential.
4) There is upward support in the market, accumulation in volumes
5) Consolidation under the level and the price continues to approach the level - this is done in order to use the minimum volume to break the resistance, and all the remaining volume to direct to growth
6) I expect resistance breakout. A small correction is possible before a further breakout.
Key support: 0.87000
Key resistance: triangle line and 0.87345 level
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