Price has reached the top of a bearish channel
. The last closed candle indicates a reversal, this is also in the same location as Fibonacci retracement
zone (although I have not drawn this on). Stops can be placed above the trendline, my profit target is at the 116.238 area. This target is at the bottom of the channel, where the ABCD pattern
finishes and where there is previous resistance from Sept-Oct.