On the H1 time frame, prices are facing bearish pressure from the resistance zone at 0.6920, in line with the 61.8% Fibonacci retracement. A pullback to this zone presents an opportunity to play the drop to the support zone at 0.6820, in line with the graphical low and 50% Fibonacci extension. Stochastic is approaching resistance as well where we could see a further downside below this level.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.