The pair has broken down from the bullish trend line and it retracing. Price could treat former support as resistance and reverse to fall to near-term support.
Entry is at the purple bullish trend line, not triggered as of writing. Target 1 is Short-term support @ 1.0929. Target 2 is the congested area around ...
Price has rejected off this key level dating back to 2009 several times recently. These rejections are strong, indicating possible institutional players behind each move. If ST resistance holds, it could be a R:R of 3+.
Stop: 2.0852 (approx 30 pips)