Understanding the Ascending Triangle Pattern

Hey everyone, was looking at $EURGBP charts earlier and it got me thinking about how useful pattern recognition can be. One I've been studying a lot lately is the ascending triangle. Basically, you've got a flat resistance level, like around 0.85700 on the daily for $EURGBP, and a series of higher lows, which creates an upward-sloping support line. It suggests that buyers are becoming more aggressive, pushing the price up against that resistance. A breakout above that flat resistance, ideally with good volume, is often seen as a bullish signal. Conversely, a drop below the rising trendline could negate the pattern.