The upside movement of the pair is capped by a bearish trendline.
It attempted a breakout but fizzled out and the price action has formed an H&S pattern instead.
Hence, we expect the pair to be bearish in the near-term.
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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.