Sell below 1.2654. Stop loss at 1.2766. Take profit at 1.2270.
Reason for the trading strategy (technically):
Price has started to reverse nicely from our selling area. We remain below major resistance at 1.2654 (61.8% , 61.8% , Impulsive structure, horizontal overlap resistance, reversal) and a strong reaction could occur at this level to push price down towards 1.2270 support ( , horizontal swing low support). We have to keep a watch out on intermediate support at 1.2382 ( , horizontal overlap support) where another bounce might occur.
(89,5,3) is dropping nicely from our 95% .