Price is still in a bullish trend. What I'll be looking out for is a pull-back and re-enter long on H4 timeframe. 1.2100 would be a good area to buy.
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Down roughly 150 pips since set-up was posted. Everything going to plan so far. This wasn't a position I took.
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Going according to plan so far. Might see a potential bounce in the following week. We'll wait and react upon opportunities presented.
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Re-test of trendline on monthly chart? Could we see more downside to come from this pair?
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[UPDATED] Coincides with 61.8% retracement fib level of previous impulse move down along with trendline resistance, will be a tough area to break through.