Two scenarios marked up on this pair, trend continuation set up and a rejection set up. We're bullish across the timeframes but if we look on the weekly chart we're seeing a lot of exhausted candles forming which have tried and failed to break levels around 159.400 for the last 11 weeks.
This is a early indication that a retracement is due, for now Ill let price find its area of interest and then adapt to the set up as it starts to form.
This is a early indication that a retracement is due, for now Ill let price find its area of interest and then adapt to the set up as it starts to form.