Starting from Monday, the range will be 1.3490 - 1.3452. This range is determined by long-term timeframes, with resistance from the weekly timeframe, indicating its validity until the weekly session closes. Support is determined by an even longer-term monthly timeframe, but based on the Year's candles, this level will be valid until December 31st. If these levels are translated to the H1 timeframe, the boundaries of this range are very close to the price, and any movement of more than 50 pips will lead to a breakout of these levels. However, the H1 timeframe is intraday, while the levels are weekly and yearly — what should be done? I assume that on the intraday charts, there will be a sideways movement, with a breakout of both levels, and the level at which the weekly candle closes behind will prevail. The expanding triangle represents the weekly levels, but a breakdown below the yearly level of 1.3452 will show that the bears are aiming for a real breakout of the triangle's support. However, a bounce up from the yearly level will show that the bulls are in control, and then it will be a sentence for the bears. I am waiting to see how the price will behave from Monday within the specified range.
