Technically we are short the pair from 126.04 with a low risk.
We are expecting price to break the 125.00 barrier before a quick slide.
Stop is 126.70
1st Target is 122.44 A break below this area with momentum is a proper structural failure and we will hold on to this position for as long as we can.
NOTE: The 126.09 is the weekly structure which was broken on 18th January 2016. A retest has already been confirmed and the only option here is to short the pair.
GLT and trade with care!
I will be updating this trade so you can follow me on twitter @charts_247 for update and more trade ideas.
Price have tester the tructure 126.09 gain without staying above. We remain short and expect more lows in the pair.