Daily analysis

My long term bias is still long on this pair.
The structure seems to be finished now, we have a nice corrective channel at the 0.61 fib retracement.
From the EW perspective i think this is a series of 1-2s.
A potential target is at the minor rising channel shown on chart currently around 0.6975.
0.7295 should remain intact for this scenario to remain favored for me.



weekly analysis

After completing a retest towards the potential reversal zone I outlined in my previous analysis, at the main falling trend line and horizontal resistance, the pair headed back lower resuming the overall bearish trend.
The price completed a another bearish double top pattern at that area as shown on chart, and broke below the neckline of the pattern at 0.7195. Given these technical developments, further downside has higher chances.

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