LorenzoDecaria

ABCD pattern

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FX:EURGBP   Euro / Libra Esterlina
The sharp drop of last week has been stalling for a while around .7200 figure, breathing into a neat symmetrical triangle. Today this important support level has been broken, along with the technical continuation pattern (symmetrical triangle). As you can see, an ABCD pattern is taking shape and its completion is around the .7000 major support. Price looks headed to that area, but hopefully (if you missed the entry) you can try to hop back on the trade should a retest of .7200 occur.

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