Reason for the trading strategy (technically):
We remain with price testing two major levels at 50% and 61.8% where we expect a reaction from. We adjust our stop loss to 1.1948 right above the gap to give this trade a bit more breathing space. The goal is to continue to sell below 1.1878 resistance ( , horizontal overlap resistance, divergence) for a strong reaction off this level to push price down to at least 1.1752 support ( , horizontal overlap support)
(34,3,1) is seeing major resistance at 95% along with divergence vs price signalling that a reversal is impending.