Both the euro and sterling found support on the 100 SMA. Past price trough (orange support line) as well as the 38.2% fibonacci retracement level provides additional support for price.
Sterling rallied immediately while the euro still offers buyers a late entry.
Stop-loss just below support 1.3408 for the euro; and 1.6225 for the sterling provides adequate room for price volatility.
On a monthly chart, Capitaland (C31) seems to be trapped within a narrow range – symmetrical triangle; achieving lower highs and higher lows. Based on conventional TA, we could expect a break either above or below the resistance/support as price moves closer to 2/3 completion of the pattern. As dictated in most TA books the break would normal occur in the direction of the prior trend – bullish trend before price collapse during the 2008 financial crisis.
In reality however, patterns do not always work out perfectly. I would prefer adopting a conservative strategy and wait for (i) a break above or below the triangle (ii) followed by a retest of that level, (iii) before entering a trade.