After price failing to break above 1.23000, it looks like price may be looking to enter some exhaustion. Price action is getting weary, showing a bearish engulfing candle break below support, now acting as resistance. After all the bullish momentum taking place in a short amount of time, we may see a pullback back down to daily support 1.20800
Note
watch this 4 hour closure below previous support now resistanceNote
waiting for more confirmationNote
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.