everyone is looking for selling opportunities on this pair right now, being a confirmation trader, I always look for confirmation signals before I execute any order.
looking left you can notice that the market has reached a decent level of resistance. RSI shows us clear bullish exhaustion being overbought with divergence.
also, we see the formation of a classic reversal pattern - head and shoulders . I will be looking for a bearish breakout of a neckline to sell the market.
targets will be based on structure, however, you can extend your second target to 109.8 - retest of the low.
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