Waiting for a test of 1.2565, potentially at a time that coincides with the bottom of the hourly bearish price channel and key RSI support at 30. If 1.2565 is being tested and holds, I will go long.
For the short term, I’m predicting a gradual consolidation towards the hourly EMA20 and another sharp downleg after that. Plenty of event risk over the next 2 days that could push the pair either way.
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