During the previous trading day, the impulsive wave (V) extended further to the lowerside and is still pretty Much bearish both on the daily and the weekly chart. Following the break below 1.2885, we expect further momentum to the lowerside, The anticipated bearish price rally is the continuation of the impulsive wave (v) to the lowerside and should break below 1.2785 and should break further down towards 1.2600. According to the hourly chart above, only sell positions looks more ideal and can be recommended specially if the price can pull back upwards.
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