EUR/GBP is in a sideways trend that has lasted for three months.
This trend is expected to extend, but at what point would a breakout from the range be assessed as occurring?
How far would such breakouts be expected to travel?
EUR/GBP price is in a sideways trend which has unfolded over three months. In technical analysis the received wisdom is that the existing trend is expected to continue until the weight of evidence points to a reversal. Since there is no evidence EUR/GBP has changed trend the conclusion must be that it will continue trading sideways.
However, it is a useful exercise to estimate at what levels the sideways trend will have been assessed as ending and a new bullish or bearish trend said to have begun.
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