The Pair has formed a Pennant. Pennant is a continuous pattern

The pattern is trending upside and a retracement is seen on the downside forming a pennant. A breakout will be an opportunity to enter in the pair.

The pair closing below the rising trendline would be an opportunity to enter sell in the pair

Breakout can be in any direction if it's downward it would be a reversal  pattern and if the breakout is on the upside it will be a continuous pattern.

RSI is following the price, during breakout RSI following the price and ADX trading above 20 wpuld be an good setup to enter.

Pennant

Dec 11 2022