Price is approaching major resistance at 1.2930 (Fibonacci retracement, horizontal pullback resistance, bearish divergence) and we expect to see a strong reaction off this level for a drop to at least 1.2844 support (Fibonacci extension, horizontal swing low support).
Stochastic (34,5,3) is seeing the major resistance below 88% and also sees a bearish divergence vs price signalling that a reversal is fast approaching.
Sell below 1.2930. Stop loss at 1.2974. Take profit at 1.2844.
