Technical Outlook and Chart Setups:
As it was depicted above, prices have stalled at the rising trendline support for a while now. Immediate chart support is just above 1.4700 level. A bullish bounce would enable a major rally. A break down should face heavy selling pressures through the 1.47 region again. It is recommended to exercise caution At the moment; rather wait for a clear signal. Short-term resistance is just below 1.5100 level. One more trading session, and we should have a trade setup. Stay tuned.
Trading Recommendations:
Conservative: Book profits on short positions.
Aggressive: Move stop down to breakeven levels. Remain short, a break down is possibly seen at 1.4700 level soon.
Good Luck!
