Akil_Stokes

EURGBP - Consolidation Lead to Expansion

FX:EURGBP   Euro / British Pound
The EURGBP is currently in a state of sideways movement which is called consolidation. Consolidation leads to expansion, so as i analyze this price chart they question that I want to ask myself is

IF Price action breakouts out to the ___ side

THEN where is it likely to continue to.

Doing so will allow me to see if there is enough potential profit (with limited risk of course) to create a trading opportunity.

This pattern formation is called a bearish flag and it traditionally breaks out to the downside. However, because the consolidation occurs at a previous level of structure, I's fair game either way in my opinion.

Akil
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