Overview
As it was expected yesterday, as long as the pair is trading out of its bullish channel and especially when it is below the lower boundary of it, so it would keep its bearish move. Today and as shown from the pair's H4 chart, the pair kept its downward direction but it still trading above the Support level 154.75. Given that the pair continues its bearish move and manages to break this Support level, it will be a good opportunity to sell below the Support level till it reaches the Support level 153.80 as a first target, then we should wait for breaking this Support to get more bearish signals, but breaking the Resistance level 156.75 cancels the bearish scenario.
Resistance and support levels: R2 (157.50) R1 (156.75) S1 (154.75) S2 (153.80) S3 (152.50)
