Price at a daily support/resistance. Seems to be respecting the descending channel on the daily. Also in oversold territory looking at the RSI.
We're now experiencing a third major touch of an ascending channel on this pair which looks to be respected. This level is also lining up with the 0.5 fib level. I'm placing my stop loss just below the 0.615 fib level with an open TP for the minute. Interested to see how this one plays out with a great RR!
Could we see a reversal at this area? Shorts coming to an area of previous support and toying with the 0.618 fibonacci level on the daily chart.