EUR/GBP: Double False Breakout Keeps Price Locked in the Triangle
17 October 2025
In today’s technical analysis, let’s revisit EUR/GBP, which we recently analyzed — but this time, we have some fresh developments worth noting. Over the past few sessions, the pair has been teasing traders with false breakouts on both sides of its symmetric triangle pattern, creating a very interesting and somewhat deceptive environment. Yesterday, the price falsely broke below the lower red line of the triangle, only to reverse sharply to the upside with impressive force. This false breakout to the downside gave a short-term buy signal, sparking a quick bullish move and catching sellers off guard.
However, the story didn’t end there. The bullish move that followed carried the price all the way to the upper line of the triangle, where we saw another false breakout — this time to the upside. This double whipsaw action perfectly illustrates the market’s indecision and confirms that EUR/GBP is not yet ready to choose a direction. The pair clearly prefers to remain inside the triangle, respecting both upper and lower boundaries. For now, this is an ideal setup for range traders, who can capitalize on the bounces between the key levels, but breakout traders will need to wait a bit longer.
From a broader perspective, symmetric triangles don’t last forever — the longer they continue, the closer we get to a high-volatility breakout. The energy inside this formation is building up, and once the real breakout happens — whether to the upside or the downside — it will likely trigger a powerful directional move. So, for now, the key takeaway is patience: range trading dominates in the short term, but the eventual breakout could bring a major trading opportunity in the coming one to two weeks.