I can see 1.63 is a good stop for falling step of G/U because it coincides Kumo Cloud of pattern, EMA50, Bolliger band dev 2.618.
Price once broke the I show on the chart, will continue fall down to test next level.
I have two orders on the table now:
- Order 1: Pending order : SELL at 1.6450 , Target 1.6317, Stop loss at 1.657
- Order 2: SELL at current price . target 1.6317, Stop loss at 1.65. 96 pips