This EUR/GBP weekly chart is flashing a long-term bearish triangle pattern that has finally broken down, signaling potential for a major move to the downside. This setup is packed with high-confluence signals that traders should not ignore.
🔍 Pattern Breakdown:
📐 Bearish Triangle Pattern
The pair has been forming lower highs while maintaining a relatively flat support base, forming a descending triangle, a classically bearish continuation pattern.
The pressure has been building for over 6 years, with buyers failing to make new highs while sellers stepped in aggressively at lower levels.
The triangle support has now been broken, and price is entering a retest phase, which is critical for confirming the breakdown.
🟧 Black Mind Curve Resistance
A unique visual tool here is the Black Mind Curve — a curved trendline that mirrors the psychology of long-term resistance.
This curve has consistently capped price action since the 2009 peak, reinforcing the dominance of sellers in this zone.
Every time price reached this curve, it reversed — confirming it as a dynamic resistance.
🧱 Major Horizontal Resistance Zone
The shaded blue zone around 0.92–0.93 represents a long-term resistance area, which has repeatedly rejected price for over a decade.
This zone also aligns with the Black Mind Curve, adding to the confluence.
The most recent swing high failed to break this area, and the pair rolled over again.
🔄 Retesting in Progress
After the recent breakdown of triangle support, price is currently retesting the underside of the broken support line (now acting as resistance).
This is a textbook setup: break → retest → continuation.
If this retest fails (which is likely based on history), the bearish move should resume.
🎯 Bearish Target Projection
The projected move from the triangle breakdown points to the 0.64330 area, which aligns with a major support level from early 2007 and 2008.
This level is a high-probability magnet if the pattern plays out in full — giving a long-term swing trade or position-trading opportunity.
🧠 Why This Matters (Pro Insights)
This chart is powerful because:
It’s on the weekly timeframe – high conviction and larger moves.
It shows a long-term squeeze finally breaking.
Resistance is reinforced by multiple layers (curve + horizontal zone).
Retest confirms possible continuation sell setup.
This isn’t a short-term scalp — it’s a position trade idea that could develop over months or even a couple years, with a massive risk-reward potential.
⚠️ Trade Plan Summary
Bias: Bearish
Pattern: Descending Triangle (broken)
Current Action: Retesting broken support
Entry Zone: On bearish rejection near 0.8400–0.8450
Stop Loss: Above resistance zone (around 0.9285)
Target: 0.64330
Risk/Reward: Potentially >4:1 on a swing basis
🔍 Pattern Breakdown:
📐 Bearish Triangle Pattern
The pair has been forming lower highs while maintaining a relatively flat support base, forming a descending triangle, a classically bearish continuation pattern.
The pressure has been building for over 6 years, with buyers failing to make new highs while sellers stepped in aggressively at lower levels.
The triangle support has now been broken, and price is entering a retest phase, which is critical for confirming the breakdown.
🟧 Black Mind Curve Resistance
A unique visual tool here is the Black Mind Curve — a curved trendline that mirrors the psychology of long-term resistance.
This curve has consistently capped price action since the 2009 peak, reinforcing the dominance of sellers in this zone.
Every time price reached this curve, it reversed — confirming it as a dynamic resistance.
🧱 Major Horizontal Resistance Zone
The shaded blue zone around 0.92–0.93 represents a long-term resistance area, which has repeatedly rejected price for over a decade.
This zone also aligns with the Black Mind Curve, adding to the confluence.
The most recent swing high failed to break this area, and the pair rolled over again.
🔄 Retesting in Progress
After the recent breakdown of triangle support, price is currently retesting the underside of the broken support line (now acting as resistance).
This is a textbook setup: break → retest → continuation.
If this retest fails (which is likely based on history), the bearish move should resume.
🎯 Bearish Target Projection
The projected move from the triangle breakdown points to the 0.64330 area, which aligns with a major support level from early 2007 and 2008.
This level is a high-probability magnet if the pattern plays out in full — giving a long-term swing trade or position-trading opportunity.
🧠 Why This Matters (Pro Insights)
This chart is powerful because:
It’s on the weekly timeframe – high conviction and larger moves.
It shows a long-term squeeze finally breaking.
Resistance is reinforced by multiple layers (curve + horizontal zone).
Retest confirms possible continuation sell setup.
This isn’t a short-term scalp — it’s a position trade idea that could develop over months or even a couple years, with a massive risk-reward potential.
⚠️ Trade Plan Summary
Bias: Bearish
Pattern: Descending Triangle (broken)
Current Action: Retesting broken support
Entry Zone: On bearish rejection near 0.8400–0.8450
Stop Loss: Above resistance zone (around 0.9285)
Target: 0.64330
Risk/Reward: Potentially >4:1 on a swing basis
For Daily Trade Setups and Forecast: 📈 t.me/xauusdoptimizer
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
For Daily Trade Setups and Forecast: 📈 t.me/xauusdoptimizer
Premium Signals Fr33: 💯 t.me/xauusdoptimizer
🥰🥳🤩
Premium Signals Fr33: 💯 t.me/xauusdoptimizer
🥰🥳🤩
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.