A zigzag pattern is a corrective wave that should not retrace the b wave more than 61.8% when compared with the previous wave a and it should have a 5-3-5 structure.
This means an impulsive move should be followed by a corrective wave and this corrective wave should not go much into the territory of the previous impulsive move, or the wave a.
In our case here, we are looking for eurgbp to form the b wave as a contracting triangle and the triangle seems to be completed in the 0.80 area and now all eyes are on the b-d trend line.
This trend line should be broken respecting all the time constraints we know by trading with Elliott Waves Theory and therefore downside is favored.
Whenever downside is favored, put options are recommended, and more details are to be found by watching at the recording above.