Even though we are in a bigger range, price is consolidating at the bottom, indicating a possible breakout to the downside.
I would not take the breakout itself since chances are good it will result in a false one. But if we get a retracement to the upper part of the corrective structure I'd look to go short with first target around 1.2450. If we break that support, extended target for me would be 1.24160.
I would not take the breakout itself since chances are good it will result in a false one. But if we get a retracement to the upper part of the corrective structure I'd look to go short with first target around 1.2450. If we break that support, extended target for me would be 1.24160.
Order cancelled:
No retracement to entry zone prior to London open.
