Price on the has been extremely especially last month. This month however, as we have reached a key level, we may be experiencing price stalling. At the moment there is some indecision.
2 weeks ago, as we approached 1.3000, price formed a which is a strong reversal formation. This was followed by a completing taking out the week prior as well as 60% of action the week before.
The last 5 days have been quite in terms of price action.
Lower highs and lower lows have been forming for some time supporting a reversal in the trend direction. Last week price broke our four-hour TL and has more recently rejected the 61.8% fib level - this also completes another lower high. MAs are downward facing. We have also broken our 1-hour CTL, retested and rejected playing off a continuation.