© Dukascopy Bank SA
Pair is posing for a 260 pip sell off. That is the main implication behind the Double top pattern's—pair fails to reach new high and after that gradually trails to the previous trading levels. For the past for days pair ahs been hovering slightly below the pattern's second top and although the medium term technicals unanimously point at appreciation of the pair it is likely that the pair, at least in the short term, will start depreciating. It might be that medium term technicals predict bounce from the pattern's support and eventual formation of Triple Top or rectangle type pattern.
© Dukascopy Bank SA