Why this triangle dominates ALL trade

We saw this earlier and commented on it, it's the triangle in the EUR/USD...

Why is there so little movement there, a virtual deadlock? This may or may not be fundamental news that was or was not discounted, depending on how good your expert network, uh I mean inside information is.

This is all about Greece and the Euro-Group meeting in which they are trying to solve the perpetual problem that is Greece.

-It is said that the ECB WILL accept Greek Bonds as collateral (you can't get much junkier than that) IF, the next tranche of aide is approved. It's hard seeing that tranche not approved, but when?

-The ECB is also softening its stance on a number of other Greek Bond issues such as their portfolio profits.

Next the IMF (which has recently been at odds with the Euro-Group), the IMF is said to have taken the position that the IMF WANTS EURO ZONE TO CUT GREEK DEBT BY 20 PCT OF GDP UP FRONT, COMMIT TO FURTHER REDUCTION LATER; this could be a $40bn cut in Greek debt. 

The market obviously doesn't know what to do with this one.