Given the current price action around 1.31, the potential left shoulder which was the previous high failed to hold as support for a continuous up movement above 1.32 after the rejection. We can see price trying to take support at 1.3080 zone, if that happens we expect price to move up to test the left shoulder level to form the right shoulder. The price will begin...
If the single currency manages to reach 1.2900, it is more likely to would face an influx of sellers pressure. The same level is at 61.8% fib level from the "head and shoulder" high. I am sell bias on the pair but if it breaks the level upwards and comes back to test it, I am more likely to buy.
