This pair has made an upward sloping flag and could be compared with a rising wedge. The trigger for an entry would be a daily close below the trend-line support. Whether the pair will re-test the 1.1620/20 are new support is to be seen, but there should be an influx of sellers at this price area. If we don’t get a re-test traders can wait for a close below support near 1.510/20 as either way the target is around the August low @ 1.1260


Source: MARYNA

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