If you want to play the bearish move, then we could be approaching a good time to short at the role reversal; and maybe more volatility at the new york session open will drive this pair further down if more traders are shorting.

If we are playing this pattern as a true head and shoulders the target should extend the same distance as the head is from the neck. So maybe we could reach somewhere around s1-m1

Pardon me if I calculated this head-neck distance incorrectly, but hopefully you get the general idea.

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