Sell below 1.1750. Stop loss at 1.1854. Take profit at 1.1500.
Reason for the trading strategy (technically):
Price has started to show the first signs of a major bearish reversal by breaking out of our ascending channel and testing our major support level. We remain bearish looking to below 1.1750 support (Fibonacci retracement, horizontal overlap support) for a drop to at least 1.1500 support (Fibonacci retracement, horizontal overlap support, big figure).
RSI (34) needs to break our intermediate support at 50% once again to trigger a bearish move from here.
Reason for the trading strategy (technically):
Price has started to show the first signs of a major bearish reversal by breaking out of our ascending channel and testing our major support level. We remain bearish looking to below 1.1750 support (Fibonacci retracement, horizontal overlap support) for a drop to at least 1.1500 support (Fibonacci retracement, horizontal overlap support, big figure).
RSI (34) needs to break our intermediate support at 50% once again to trigger a bearish move from here.