The pair is currently testing trendline 1. A rejection to the downside will open up the 1.59xx support.
A further retracement to the 0.382 fibonacci level is on the cards.
A further retracement to the 0.382 fibonacci level is on the cards.
Comment:
2 days later, price is yet to move higher after breaking below a strong trendline. It would be nice to see a retracement to the 0.382 fibonacci level 🎯 of the previous bearish impulse 🐻. However, in the absence of a retracement, further weakness is expected.
Comment:
Price still playing around the trendline as of 20th November
