Technical Outlook and Chart Setups:
As shown on 4H chart view, the single currency pair has just bounced back from 1.4250 level and there is still a fair possibility for it to rally further past 1.46/1.47 levels before reversing. As it is seen here, intermediary resistance is around the 1.45 mark, while support is around 1.4170/80 mark. It is always recommended to keep booking profits on long position taken towards counter trend rally. Intraday resistance is around 1.44 levels; selling rallies is also a recommended strategy.
Trading Recommendations:
Book profits from long positions taken yesterday. OR move stop loss to breakeven levels. Wait for fresh selling opportunities
Good Luck!
