With price action since July indicating a reversal, we can analyse past price ranges to see where a short trade might be best placed. The range that was formed since the beginning of the year, which price fell out of after the Brexit news, looks to be the nearest producer of levels to take short positions from. The levels from 1.4044 - 1.4073 are particularly well-respected by price as can be seen from the quick pullbacks as it approached the levels throughout the past months. The daily 200 MAs are also currently placed near that price region.
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