Midterm forecast:
While the price is below the resistance 0.9305, beginning of downtrend is expected.
We make sure when the support at 0.8965 breaks.
If the resistance at 0.9305 is broken, the short-term forecast -beginning of downtrend- will be invalid.
Trading suggestion:
There is a possibility of temporary retracement to suggested resistance zone (0.9045 to ...
Looks like some confluence around a break of the Fib 38% retracement level and break of the downtrend channel indicates a short sell off the back of a weakening Euro and slowly stabilising Pound.
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