# EURGBP Ascending Triangle (Apr 1, 2016) Source: https://www.tradersway.com/resources/market-info/eurgbp-ascending-triangle-apr-1-2016/ Language: en Updated: 2016-04-01 Description: Explore EURGBP Ascending Triangle (Apr 1, 2016). EURGBP has formed. Trade Forex and CFDs on MT4 and MT5 with tight spreads, flexible leverage and fast funding. EURGBP has formed higher lows and found resistance at the .7900 area, creating an ascending triangle pattern on its 4-hour time frame. Price is currently testing the triangle resistance at the moment and an upside breakout seems imminent. In that case, price could head north by an additional 400 pips, which is roughly the same height as the chart formation. The 100 SMA is above the 200 SMA, confirming that the path of least resistance is to the upside. However, stochastic is moving down from the overbought zone, suggesting that a drop back to the triangle support might still be possible. RSI is also in the overbought area so a selloff might take place if sellers take control. Data from the euro zone came in mixed yesterday, as German retail sales fell short of expectations with a 0.4% decline instead of the projected 0.3% uptick while French consumer spending beat expectations with a 0.6% gain versus the estimated 0.1% uptick. The French preliminary CPI also beat expectations while the Spanish flash CPI and German unemployment change came up short. ![EURGBP Ascending Triangle (Apr 1, 2016)] As for the UK, the current account balance showed a much larger than expected deficit of 32.7 billion GBP while the previous reading was revised to show a larger shortfall than initially reported. On the upside, its final GDP reading was revised slightly higher from 0.5% to 0.6%. The UK manufacturing PMI is due today and a rise from 50.8 to 51.4 is eyed. *By Kate Curtis from Trader’s Way* ## Structured data JSON-LD as served in the HTML version of this page. ```json { "@context": "https://schema.org", "@graph": [ { "@type": "Article", "@id": "https://www.tradersway.com/resources/market-info/eurgbp-ascending-triangle-apr-1-2016/#primary", "url": "https://www.tradersway.com/resources/market-info/eurgbp-ascending-triangle-apr-1-2016/", "mainEntityOfPage": "https://www.tradersway.com/resources/market-info/eurgbp-ascending-triangle-apr-1-2016/", "headline": "EURGBP Ascending Triangle (Apr 1, 2016)", "inLanguage": "en", "datePublished": "2016-04-01T05:31:36+00:00", "dateModified": "2016-04-01T05:31:36+00:00", "articleSection": "Market Info", "description": "Explore EURGBP Ascending Triangle (Apr 1, 2016). EURGBP has formed. Trade Forex and CFDs on MT4 and MT5 with tight spreads, flexible leverage and fast funding.", "image": { "@type": "ImageObject", "url": "https://www.tradersway.com/wp-content/themes/tradersway/images/og-default.png" }, "author": { "@type": "Organization", "@id": "https://www.tradersway.com/#organization" }, "publisher": { "@id": "https://www.tradersway.com/#organization" } }, { "@type": [ "Organization", "FinancialService" ], "@id": "https://www.tradersway.com/#organization", "name": "Trader's Way", "alternateName": "TradersWay", "legalName": "TW Corp LLC", "description": "Trader's Way is the trading brand of TW Corp LLC, a company registered in Anguilla under number A000001731. It provides online leveraged trading in forex, metals, energies, stock indices and cryptocurrencies through MetaTrader 4, MetaTrader 5 and cTrader, with Market execution, a 40% stop out level and a minimum initial deposit of 10 USD. The company holds no financial services licence and does not direct its services to residents of the United States or the United Kingdom.", "url": "https://www.tradersway.com", "foundingDate": "2011", "logo": { "@type": "ImageObject", "url": "https://www.tradersway.com/wp-content/themes/tradersway/images/logo-square-512.png" }, "address": { "@type": "PostalAddress", "streetAddress": "No. 9 Cassius Webster Building, Grace Complex", "postOfficeBoxNumber": "1330", "addressLocality": "The Valley", "postalCode": "AI-2640", "addressCountry": "AI" }, "contactPoint": { "@type": "ContactPoint", "contactType": "customer support", "email": "support@tradersway.com" }, "areaServed": "Worldwide, excluding the United States and the United Kingdom", "knowsAbout": [ "Foreign exchange trading", "Contracts for difference", "Leveraged trading", "Precious metals trading", "Energy commodities trading", "Stock index trading", "Cryptocurrency trading", "MetaTrader 4", "MetaTrader 5", "cTrader" ], "sameAs": [ "https://www.trustpilot.com/review/www.tradersway.com", "https://www.forexpeacearmy.com/forex-reviews/8129/tradersway-forex-brokers", "https://www.youtube.com/channel/UChRC072YJGlNNNYhg_0hZeA", "https://www.facebook.com/tradersway.forex.broker", "https://twitter.com/TradersWay", "https://www.instagram.com/traderswayforex/", "https://t.me/tw_eng" ], "identifier": { "@type": "PropertyValue", "propertyID": "Anguilla company registration number", "value": "A000001731" }, "location": { "@type": "Place", "address": { "@type": "PostalAddress", "streetAddress": "Radnicka 147", "addressLocality": "Valjevo", "postalCode": "14000", "addressCountry": "RS" } } }, { "@type": "WebSite", "@id": "https://www.tradersway.com/#website", "url": "https://www.tradersway.com", "name": "Trader's Way", "publisher": { "@id": "https://www.tradersway.com/#organization" } }, { "@type": "BreadcrumbList", "@id": "https://www.tradersway.com/resources/market-info/eurgbp-ascending-triangle-apr-1-2016/#breadcrumb", "itemListElement": [ { "@type": "ListItem", "position": 1, "name": "Home", "item": "https://www.tradersway.com/" }, { "@type": "ListItem", "position": 2, "name": "Resources", "item": "https://www.tradersway.com/resources/" }, { "@type": "ListItem", "position": 3, "name": "Market Info", "item": "https://www.tradersway.com/resources/market-info/" }, { "@type": "ListItem", "position": 4, "name": "EURGBP Ascending Triangle (Apr 1, 2016)", "item": "https://www.tradersway.com/resources/market-info/eurgbp-ascending-triangle-apr-1-2016/" } ] } ] } ``` ```json { "@context": "https://schema.org", "@graph": [ { "@type": "Person", "@id": "https://www.tradersway.com/#wayne-mcdonell", "name": "Wayne McDonell", "jobTitle": "Chief FX Strategist", "description": "Chief FX Strategist at Trader's Way, trading forex publicly since 2004. His analysis has appeared in the Wall Street Journal, Bloomberg Television, Fox Business, Futures Magazine and FOREX Journal Magazine. Author of \"Strategic and Tactical Forex Trading\".", "worksFor": { "@id": "https://www.tradersway.com/#organization" }, "knowsAbout": [ "Foreign exchange market", "Technical analysis", "Fundamental analysis", "Forex trading strategy" ], "sameAs": [ "https://www.youtube.com/c/tradersway" ] }, { "@id": "https://www.tradersway.com/#organization", "employee": { "@id": "https://www.tradersway.com/#wayne-mcdonell" } } ] } ```