General Trend still Bearish
. Retest of yesterday's high a possibility and maybe higher but as long as Previous Supply Zone
is not breached, price will just travel to and fro the trend lines
and within range of supply area. I would look to sell on price break at lower trend line
or any sign of weakness from upper tl. "Trend is your friend, they say" - so my preference is to sell the highs at any sign of weakness so as not to get caught on the wrong side of the fence.
No matter how I look at this,rally is a bull
trap and just taking a breather to take the price down beyond the triple bottom. Take note of pattern formed on time frames - Rising Wedge
. Nothing much has changed with my outlook for this pair.
NOTE: IMHO, change of outlook to bullish
when previous supply area is strongly breached.