Reason for the trading strategy:
Price is approaching our first resistance at 1.3616 (horizontal swing high resistance). We expect a strong reaction to occur below this level, pushing price down to our major support at 1.3314 (horizontal overlap support, 38.2% ). A breakout below our intermediate support at 1.3469 (horizontal overlap support, 38.2% ) will provide the acceleration to our take profit level. is also showing signs of pressure, in line with our bias.
(34) is also seeing a exit and we can expect a corresponding drop in price.