We are waiting for a break of this inside bar
setup.This pair is still bearish
, having broken below weekly support in this fib play. There are multiple confluences suggesting the bears are in full control, including the MA's still being in bearish
territory. We will wait for setups one we get a break lower from this inside bar
setup, or short a retest of the 1.6350 level if prices break higher. We are targeting the 61.8 extension at 1.5850.