Overview
As it was expected yesterday, we should make the decision after breaking the Support area consists of the Support level 152.50 and the upper boundary of the bearish channel. As shown on the H4 chart, the pair failed to break this Support area yesterday and bounced from it again to reverse its bearish move taking an upward movement and currently is approaching the Resistance level 153.85 to re-test it. Given that the pair continued its bullish move and managed to close 4H above this Resistance level, it gives us new opportunity for Buy-signals above this Resistance level with first target few pips below the Resistance level 154.75 then 155.30 as a second target. But as long as the pair trades below the Support level 153.80 this cancels the bullish move scenario.
Resistance and support levels: R3 (155.40) R2 (154.75) R1 (153.85), S1 (153.25), S2 (152.50) S3(152.00)
