The pair is in a correction, the fall is possible.
On the 4-hour chart, an upward correction of the higher level develops as the wave 2 of (5). Now the wave b of 2 is developing, within which the wave (c) of b is forming. If the assumption is correct, the pair will fall to the levels of 0.6920–0.6832. In this scenario, critical stop loss level is 0.7206.
Main scenario
Short positions will become relevant during the correction, below the level of 0.7206 with the targets at 0.6920–0.6832. Implementation period: 5–7 days.
Alternative scenario
The breakout and the consolidation of the price above the level of 0.7206 will let the pair grow to the levels of 0.7292–0.7387.
Scenario
Timeframe Weekly Recommendation SELL Entry Point 0.7017 Take Profit 0.6920, 0.6832 Stop Loss 0.7050 Key Levels 0.6832, 0.6920, 0.7206, 0.7292, 0.7387
Alternative scenario
Recommendation BUY STOP Entry Point 0.7210 Take Profit 0.7292, 0.7387 Stop Loss 0.7180 Key Levels 0.6832, 0.6920, 0.7206, 0.7292, 0.7387