After he approached his third goal at the November bottom of 2018 around the 1.1220 pair rebounded during trading on Friday due to move near the lower limit of price channel breached shown on the chart for four hours … it faces price currently SMA 50 with the entry of Stochastic within the overbought area.
The downside potential remains intact as long as trading remains below 1.1350 to be the next targets around 1.1220 as the first target, whose breach may extend from the current bearish wave to target support around 1.1105 as the second target.
A break of 1.1350 might be enough to end the downside potential and could then continue to rally towards 1.1405 as the first target and then 1.1460 as the second target at least
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