The pair has just broken out of a 1/4HR range it was trapped in at price support, it has just broken and closed below the range of support on the 1HR and 4HR charts. Price also bounced from a strong daily CTL which is part of a channel earlier last week and should be heading down to the trend line
at the bottom of the channel. The weekly candle last week also closed very bearish
, and the 4HR fib hit 78.6%, so i have placed my SL above swing high and TP at 161.8% fib extension level, which is also a weekly support level
. This is a longer term trade.
TP @ 0.70514
SL @ 0.72273
R/R @ 2.05