GA Weekly Analysis
1. The pair has retested the neckline of H&S at 1.76 and promptly rebounded sharply to the downside at 1.74.
2. The pair has closed above 1.74 region. This region is important because at has printed a Pin Bar formation last week and it is also the July's Low. A clear break below 1.74 is needed to confirm the direction of the pair.
3. If 1.74 is broken, the downside target will be the major support at 1.72. On the flipside, if the pair failed to make a sustained break below 1.74 it will possibly trigger a potential correction rally to 1.76 region.
Bias
Long-term: Bearish
Short-term: Bearish
2. The pair has closed above 1.74 region. This region is important because at has printed a Pin Bar formation last week and it is also the July's Low. A clear break below 1.74 is needed to confirm the direction of the pair.
3. If 1.74 is broken, the downside target will be the major support at 1.72. On the flipside, if the pair failed to make a sustained break below 1.74 it will possibly trigger a potential correction rally to 1.76 region.
Bias
Long-term: Bearish
Short-term: Bearish
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