Looking at the Daily we can see that price broken below major support (previous structure) at 1.9900 and has since printed a new Daily Low invalidating the Bullish
sequence. We are now below the Daily 50ema and its clear to see that we are within the corrective phase of this market following from an impulse breaching several major confluences. Notice how the 38.2% & Daily 50ema are holding like a rock with multiple rejections - shorts from here look fantastic.
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