EURGBP - Diamond Chart Pattern

The market formed a diamond chart pattern. Even it's not a perfect one, it can be used for trading. We have the price at the support level, the breakout above the downtrend line and new swing low higher than the previous one. The market can move upward even we have the bearish trend. If the price can break the upper line of the diamond pattern and move above the resistance zone between 0.86200 and 0.86500 levels, it will be possible to open short term buy trades. Stop orders for such trades must be placed below 0.86000 level. Profit targets should be at SMA100, SMA200, and higher resistance.