EU Short -> 1.1575

Entry: 1.1625
SL: 1.1635
TP: 1.1575
Daily: The pair has tested and rejected off the upper range of downward channel & the 1.1725 resistance. The price is currently consolidating in at 1.1625 support. A sustained move above 1.1625 would push the price to 1.1675 which is the upper range of the downward channel. A move below would confirm the breakout of the channel and push the price lower to 1.1575 & 1.525.
4H: The pair is currently consolidating at the 1.1625 region after breakout of the channel. A clear break above would resume the channel structure and move the pair to 1.1675. A break below would confirm the breakout and continue the descent. As of now a Pin Bar formation can be seen as the price has rejected the channel structure & resistance at 1.1625. Wait for close of 4H candle for more confirmation.
1H: The price is consolidating at the 1.1625 region. A break above would push the price to 1.1675 while a break below would target 1.1575.