I consider the current price action to be a consolidation of the last impulse. This correction unfolds in the shape of a and I therefore don't expect wave C to retrace a lot more than then the length of wave A. This is not written in stone and only a guideline but something to keep in mind when trading this pair.
I like the confluence between -1.272 Fib as well as the recent lows in the 1.315 zone. Wave C should have 5 inner waves and selling out of this 1.315 zone from lower time frames after divergence is what I'll be looking for.
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Have a nice weekend everyone!