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.