The pair is in a daily descending wedge
, and has just touched and rejected the upper trend line
of the wedge
, a few 4HR indecision candles were made at this level which is also a 0.5 level fib, and then a bearish
candle was formed which indicated to me the market decision has been made to travel lower. I have placed my TP at the swing low however it my go lower than this as it is currently on the LL leg of the trend.
TP @ 1.29987
SL @ 1.32265
R/R @ 2.6