EURGBP in a triangle pattern
What we can see here is a corrective pattern forming after the complete move of 1-2-3-4-5 impulse.
The correction pattern that is playing out is a triangle, and as wee can see , the A, B and C of the pattern has been fully formed, each is a zig zag,,, so we are left with two options, either wave D and E of the triangle pattern has been complete so we are buying for new impulse, or we are currently buying the second zigzag leg of wave D which will be followed buy a wave E then the resumption of the bullish impulse.
Regardless of the 2 options we can deduce a buy signal with an invalidation level below wave C low.
The correction pattern that is playing out is a triangle, and as wee can see , the A, B and C of the pattern has been fully formed, each is a zig zag,,, so we are left with two options, either wave D and E of the triangle pattern has been complete so we are buying for new impulse, or we are currently buying the second zigzag leg of wave D which will be followed buy a wave E then the resumption of the bullish impulse.
Regardless of the 2 options we can deduce a buy signal with an invalidation level below wave C low.
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