2) The price hit the bottom of the channel last week, where it formed a major at that support hinting a potential rebound or at least a period of sideways consolidation
3) So far the rebound has taken the shape of a sideways consolidation.
4) over the near term Shorting the pair near 0.7850 resistance is another possible trade, targeting 0.7830 and and the low of the cat 0.7625.But take care of break above 0.7850 resistance.
5) Only a break above the high of the dragon-fly candle at 0.7850 might call for more upside correctional movement. In that case look for longs with a target at the cluster of the 50-days and the top of the near 0.8000 areas.
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