Compelling reasons to SHORT this pair from these levels. WE have a double top at .7756 and this coincides with WR1 Pivot Resistance. I have a open ended target for this trade but am looking for a move back down to the 200 sma currently at .7625 area. I'm SHORT from .7750 with a hard 20 pip STOP at .7770.
Trade closed: stop reached:
Overnight price has pushed through my target STOP by 16 pips and subsequently reversed sharply. I may look to re-enter SHORT if WR1 resistance holds on a retest.