For downmove * Price took out the old pre-brexit high (23-06) * We're at a massive bearish orderblock (purple area) * Reached 61,8% retracement and almost had a 70.5% Optimal Trade Entry (ICT) * The above three points define the Turtle Soup (street smarts) making a downmove probable
however
For upmove
We also reached an old (smaller) post-brexit orderblock (white area)
We are also nearing a very very very very very important MONTHLY S//R zone (which you can't see because it's off screen), but do scroll back and be shocked and awed by the fact price has been around this level for 8 months so nearly 3/4 of 2014.
That brexit candle close is far above the monthly.
This all makes me think we're not going anywhere and we're back in the accumulation zone for the big boys.
Comment
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This is beginning to look like we aren't stopping the downtrend nor are we accumulating around the level. I'd not be looking for longs on this pair for awhile.