The pair was unable to breach the resistance 1.3325 to retreat towards 1.3195 support … it is preferable to stay neutral until the price is out of the area specified on the chart … Going back to the upside and breaching 1.3325 might be enough to activate the upside down head and shoulders model shown on the four hour chart to be the following potential targets About 1.3435 as the first target then 1.3550 as the second target and then 1.3660 as the third target.
A breach of support 1.3195 could cause negative pressure on the pair and push it to test the support of 1.3070 as the first target, whose breach may extend from the downside towards 1.2915 as the second target and then 1.2780 as the third target.
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