This small area of resistance does indeed look attractive, but with a fresh 4hr sitting just above it at 1.1171-1.1147, which not only encapsulates a daily swap level at 1.1148, but also converges with both a value of 0.618% and the mid-level number resistance at 1.1150, this area is far more appealing to us today.
With that being said however, we will still need to see some sort of lower timeframe confirming signal at this 4hr before we consider risking capital to this idea. The reason for why simply comes from the ongoing Greek situation and the fact that we are seeing very little direction from the at this point.
Levels to watch/live orders:
• Buys: Flat (Stop loss: N/A).
• Sells: 1.1171-1.1147 (Stop loss: 1.1176).