EUR/USD: "Breakaway Gap" pushed the price higher
Read the article on FBS website
There’s a “Pennant”, which upper side has been broken, so we’ve got a “Breakaway Gap”. Therefore, the price faced a resistance at 1.0850. However, the market is likely going to achieve the next resistance at 1.0873 in the short term. If a pullback from this level happens, there’ll be an opportunity to have a decline towards a support at 1.0811.
We’ve got a “Breakaway Gap”, so the price is consolidating. Also, there’s a “Pennant”, so the market is likely going to test the nearest resistance at 1.0873. If bulls be stopped by this level, bears will probably try to reach a support at 1.0811.