In one previous Post i was speaking about of an Almost Symmetrical Triangle formed by the couple EUR/GBP.
Well, this week, this Major's couple has validated the above mentioned triangle and the price of the Euro with regard to the Pound Sterling seems to go towards the line of rising trend of the mentioned Triangle (to see attached graph).
But as the Technical Analysis of any couple of Currencies it has to of getting up-to-date constant in order that his conclusions have certain validity, we do aside the triangle and observe that there is a line of rising trend (blue color) that has come serving as line of Support of the EUR/GBP in the ascent that it has registered from February 18 (see next graph).
In this respect, we estimate that at the half of the Asian session of March 24, the price of the EUR/GBP is proving this line of rising trend, for what we are in a moment of decision that surely will be defined during the London session of today.
They present then two basic scenes, which are:
Downward scene
In case during the London Session of March 24, the EUR/GBP breaks to the fall the line of rising trend showed in the second graph, this couple of Currencies will go towards the line of rising trend of the Symmetrical triangle that we have showed in the first graph.
Upward scene
If the EUR/GBP respects his line of Rising Support, his following Resistance represents the line of downward Trend of the Symmetrical triangle repeatedly mentioned.
