Price zone 1.0200 - 1.0235 which corresponded to a downtrend line has been broken through obviously last week. There is a continuation of flag pattern confirmed with daily closure above 1.0210 to have final target at 1.0400. However, it is important to note that signs of lack of bullish steam seem to exist this week as depicted on the daily chart.
Bearish rejection around 1.0300 was followed by multiple days of indecision within the same consolidation range 1.0225 - 1.0330 until the pair gave obvious 4H closure below 1.0250 (61.8% Fibonacci) giving indication of a short-term bearish retracement targeting 1.0200 initially.
Retesting of the backside of the broken bearish channel around 1.0200 will probably provide a valid BUY entry with tight SL below 1.0150. TP levels should be located at 1.0250, 1.0280, and 1.0330.
