EurUsd formed a triangle on the 1hr timeframe on Monday afternoon(see chart below) and it broke out of that triangle with fury in the Asian session, the momentum pushed the pair towards the yearly high at 1.4530. In the most part of the UK session the pair traded just below the high in a small consolidation range and right as we write this intraday commentary EurUsd printed a new record high at 1.4555 and bullish momentum keeps building up.

Cable found support around the 2.0800 area yesterday, and it moved higher in the Asian session until it found resistance at a down sloping trendline. Looking at the 1hr timeframe the pair seems to be forming a triangle as it has already touched the resistance trendline two times and is now slipping lower. Usually this triangle pattern is a continuation pattern and considering the overall bullish sentiment, a breakout above the 2.0880 will be a clear sign that the up trend is still valid.