On the H1 time frame, prices are approaching the resistance zone at 1.0800, in line with the 38.2% Fibonacci retracement and 100% Fibonacci extension. A pullback to this zone presents an opportunity to play the drop to the support zone at 1.0680, in line with the graphical low. Prices are holding below the Ichimoku cloud, supporting the bearish bias.
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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.