We have obvious downtrend of lower lows and lower highs.
There's an opportunity to go short at around 113.00 which is :-
1. Fibonacci cluster 38.2% , 50% and 61.8% of different swings.
2. Downtrend line coming at this level.
3. Lower limit of previous transverse channel.
4. Previous highs.
Entry around 113.25 - 113.60 with reversal price action on 4H timeframe (Failure of daily candlestick to close above the downtrend line).
It's important to take care that the pair is now forming higher lows & highs which may be turning into uptrend ( So reduce lot size ).
SL should be daily closure above 114.00.
