It looks more and more like a descending triangle

On the daily chart of the EURUSD we can see that the pair has been consolidating around the 1.2300 level, where we can also find the 200 month EMA, without taking a clear direction. During the consolidation, the price action has formed what it appears to be a descending triangle with a support at the 1.2200 zone and a resistance at the upper trendline of the triangle. It seems like the bearish pressure is building up at the 1.2200 level and a breakdown of that zone could take the EURUSD to the 200 day EMA (blue line), around the 1.2040 level. On the other hand, a breakout above the triangle could take the pair to the peak at the 1.2554 zone, but in order for the pair to go back to its longer term bullish trend, its price must break above the 1.2600 level.