The price has dropped strongly since yesterday and has started to form a really strong reversal setup. We look to sell below major resistance at 1.3120 (Fibonacci retracement, horizontal overlap resistance) for a push down to at least 1.3048 support (Fibonacci extension, horizontal swing low support).
RSI (34) sees descending resistance and immediate resistance at 46% which is supporting our bearish view.
Sell below 1.3120. Stop loss is at 1.3178. Take profit is at 1.3048.
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