As shown by the chart, we have tested and rejected the support trendline of a channel formed between at Jan '85 and Oct. '92;
Natural expectation of an upward movement, targeting the 61.8% @1.2632, testing recent Bears Channel Trendline acting as resistance, and eventually completing the Bearish Cypher pattern around 1.400, also previous structure resistance @1.3637, creating an eventual nice Risk/Reward opportunity to enter Short.
Searching for new opportunities to go Long with this pair (lower time frames)
CYPHER: Point B: 38.2% to 61.8% XA Point C: 127% to 141% ext XA Point D: 78.6% XC Target: TP1 38.2% CD TP2 61.8% CD