After the monthly breakout to the downside there is a lot of orders that the market left behind huge amounts of orders, so I am waiting for the market to pull back to the weekly order block then move towards the downside.
The London session has just started and there are two areas where the market just found resistance. Now there was a 15 min break of structure to the upside which means the market might go lower to mitigate the orderblock that is below the lower resistance which is also an area of liquidity then move higher to break yersteday's daily high.
Looking at the amount of buying pressure that we have on the higher timeframes. And I have highlighted the last place that the market pushed lower before going higher. I think that is the place that the market will go to before it moves towards it's direction which is buying.
With the current market structure there is a very high possibility that the pair will drop down since it failed to break the previous level that I have elaborated on the chart.
