fxtrends
Short

EUR/GBP: 4th- Wave of triangle complete

FX:EURGBP   Euro Fx/British Pound
76 0 0
The 4th-wave of a large triangle has either been completed or nears completion. Daily RSI seems to be comfortably in range, indicating room to go before breaking-out. The 5th-wave in triangle patterns often fail to the reach the opposite side of the triangle. The 50% retracement at .7919 should provide an initial cap, while the 61.8% retracement could be where the 5th-wave terminates. The 2 arrows depicted are potential paths that time and price have an influence on.
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