Bearish Pennant on EUR/GBP @ D1
This chart shows a bearish pennant on the daily chart of the EUR/GBP currency pair. It can be used as a trend continuation pattern in case of the price closing below the lower border of the pennant part. The pennant and its pole are shown with the yellow lines. My potential stop-loss level is marked with the red line (0.83861), it is placed at the high of the pennant area. My potential take-profit level is marked with the green line (0.82562), it is placed at the pole's length below the SL. I will wait for the price to close significantly below the lower border of the pennant area to execute a trade here.
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Penafian
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