The descending triangle is formed in the downtrend and indicates the continuation of the downtrend. It is formed as a downward sloping triangle with support and a slope of lower highs. The support does not allow the prices of the securities to move more downward.
The support at 1.3000 looks firm (tested multiple times at 1.2980 – 1.3000 since mid-March). Given that Cable is in a downtrend and the descending triangle, I will be watching for the break and retesting of the support to go short. Downward bias should persist so long as the pair remains below 1.3150.