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After Yesterday's upside movement , The bearish channel on the Daily and level 1.6470 managed to limit the movement .
On the short term , the pair is consolidating around 1.6400 which became the last hope for the ascending wave .
Breaking of 1.6400 and 1.6380 will allow the pair to decline rapidly
The importance of 1.6380 is that it has : MA55 , Fibonatcci 61% , and the lower limit of the bullish channel on 4H
Based on the previous analysis :
Taking any rebound from levels 1.6430-1.6470 as a short signal with targets at 1.6300-1.6280
SL sould be 4H closure above 1.6500
