Reason for the trading strategy (technically):
Price is now testing major resistance at 0.7404 (channel resistance, horizontal overlap resistance, ) but we’re also seeing that it might be breaking out of our long term so we have to be careful and monitor price movement. If price starts reacting off our selling area and reintegrates nicely into the channel, then we can expect a further push down towards 0.7318 support ( ).
(89) sees a long term descending resistance line hold the momentum in price really well. However we can also see that there is a chance that it is starting to break out so we have to exercise caution and monitor it closely.