Considering the location of current price, there appears to be a potential H4 pattern forming, which terminates very nicely around the mid-level support 1.0850. Not only is this pattern’s completion point bolstered by a weekly range demand at 1.0519-1.0798, it is also supported by a combined daily demand/swap at 1.0796-1.0870.
Given the above, we are looking for the current H4 demand to be consumed today, and prices drive lower to connect with the above said area of confluence. Personally, we are not looking for a ‘to-the-pip’ touch here as this market could very easily fake lower (within the pink circle). Therefore, our plan of attack will be on looking for lower timeframe buy entries within this area.