This pair belonged to the bears this past week. The ECB being dovish also helped price move even further to the downside, and after price opened up between WM# & WMP. Bears took price to the weekly target of WM!, however price moved much lower past WM1 support to find the next level of support @ 1.117 which is also MM1, the bearish pivot target for bears for the month of March.
Friday, however, saw price retrace back to the upside thanks to poor NFP numbers for February and closing the week @ 1.1231. Reaching the monthly target so early in the month suggests that price heads back to the monthly central pivot according to pivot point theory. Which remains to be seen as could sell or short lower highs.

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