We have loads of Fib confluence around 1.4270 coming up which might indicate we have a good reversal zone here.
Just to quickly sum it up 50% retracement of the last major move down 1.272 extension of the impulse leg of our butterfly pattern (XA-leg) 1.618 extension of the AB leg of the butterfly pattern and finally a 1.272 extension of the last move up last but not least there is some structure in place as well that the pair could not break through for a full 24 hrs
Good enough for me to consider this zone as a potential reversal zone for a (temporary) move down of this pair.
It's nice to see the trendline was a bait...
tradingview.com/v/hNpfV3u3/