EUR/GBP 4H Chart: Descending Triangle

Source: Dukascopy Bank SA
© Dukascopy Bank SA
It seems worth examining the descending triangle pattern formed by EUR/GBP one more time as several pair's attempts to break out of the pattern in both directions proved to be unsuccessful.
Now the pair is trading below the pattern's support line at 0.8241, albeit slightly, raising the question whether the breakout is real. Some factors like proximity of the apex signalize that this time the pair might have performed a real breakout. Furthermore, almost 65% of all orders are placed to sell the pair, while technical data signals weakness in the medium term.
© Dukascopy Bank SA
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