Monthly: The pair is stuck in a range since 2015; Key Resistance comes in at 0.775; Key Support comes in at 0.7225;
Weekly: Range; Key Resistance comes in at 0.78750; Key Support comes in at 0.71600;
Daily: Price is overextended to the upside; May find Resistance on 0.775 level; Found Resistance at 0.7725 which is 161.8 Fibonacci Extension of the trend; ________________________________________________________________________________
Given all of the above:
Moving down to the H4 time frame for execution, we have:
- Strong break of Pennant pattern; - Break of important Support level at 83.05
Entry Trigger: Pennant break with bearish momentum;