The market condition I have picked is that of an uptrend since the market is characterized by H.Hs and H.L s from the weekly timeframe to the daily. However the prices have attempted to break the 1.5760 region a couple of times but rejected. this is claerly visible on the daily timeframe. This rejection in the most recent price action resulted in the formation of the head and shoulders pattern. This is a potentional selling opportunity upon the neckline break and close.
If the market does manage to break through the mentioned zone then it would be wise to buy the retest.