© Dukascopy Bank SA
Right now the currency pair is trading next to the upper boundary of the figure and may even get closer to it, given that most of the technical indicators are giving ‘buy' signals. However, when the Pound approaches the lower boundary of the formation at 1.85, we should be ready for a break-out to the downside, being that the pattern implies a reversal of the general trend, in this case—a sell-off.
© Dukascopy Bank SA