EUR/GBP – Bearish Triangle Breakdown in Play (Long-Term Setup)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
