Set a sell stop at 1.06924 to catch the larger move downwards. There is a possible chance that price would bounce off previous support now resistance near the 50 level on the fibonacci.
Hear me out. There's an Elephant forming on the 1 hour chart and from the looks of it, if the elephant is hydrated, price will most likely go down when the elephant sprays water using its nose due to gravity pushing the water downwards.
