In the 4 hour chart we can see it has reached to the recent high located at 1.06250, now it should go back to complete the pullback forming the first set of higher highs/ higher lows.
The center line where the arrow points is a good level of past resistance where this time it could covert to a support. Also a 50% Fibonacci level, placed at 1.04500. It is clear that the pair is searching to form a new bullish trend, this pullback can be taken with a couple trades and go back to trend following.
The center line where the arrow points is a good level of past resistance where this time it could covert to a support. Also a 50% Fibonacci level, placed at 1.04500. It is clear that the pair is searching to form a new bullish trend, this pullback can be taken with a couple trades and go back to trend following.