1163 will be the Resistance for WAVE3-5, AND it's quite important a resistance. Will impulse up to 1177 once it got broken.
Support levels are 1150 and 1144 as marked.
So, wait and see.
VM-RED Trading Strategy:
A typical .886 combinationof Fib has formed.
So, a VM-RED strategy can be adopted to take this trade. Although we've missed the best entry level, it's the thought that matters!
As shown in the chart.
entering the support zone soon = 1.25
which is the support of:
two uptrending trendlines;
1.27ext, also a potential ab=cd / cypher pattern;
well, I hope this is enough to support on 1.25.
Daily intervel, facing a strong support = 1.052.
Be careful with your short.
In the opposite, I do think there are some odd that this pair will bounce up to 1.085 in some way.
Anyway, m not guessing. All R/Ss are calculated and verified through the left.