The pair resumed its bearish trend last Friday to close below Wednesday’s low of 1.3150, reinforcing the potential downside scenario of 1.3070 support as the first target, which could push the pair further down towards 1.2915 as a second target and then 1.2780 as a third target.
A break of the last 4-hour closing above 1.3245 might be enough to end the downside scenario, and the pair could push to test the 1.3325 which could breach the upside-down head and shoulders pattern shown on the chart to be the next potential targets around 1.3435 as the first target, then 1.3550 as the second target, then 1.3660 As a third target .
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