EURSGD started consolidating at the beginning of September and then broke below this range 14 days later. Price retraced back to the lower boundary of the previous range and is currently holding below.
This is a good indication that selling pressure remains strong. As long as price is holding below this range, a swing trade potential is possible.
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Over on the 4-hour timeframe, price briefly crossed back into range and then held below the lower level on a later retest.