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At the moment, the pair is trading near the upper trend-line of the pattern, putting a pressure on monthly S2 and weekly PP at 0.7827/30. Nonetheless, a distinct majority of the technical studies are to the downside, thus suggesting that the current bearish trend is very likely to continue. On the other hand the traders' sentiment is bullish, with 62.83% of them expecting the pair to appreciate. Therefore, a bullish break-out should not be excluded, as a possibility.
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