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The pattern started when pair bounced from 0.7455 and after testing resistance levels at 0.7753 and 0.7784 it has slowed down at 0.7783 where the pair is currently trading. Aggregate indicators do not suggest any emerging patterns in any of the time horizons. Long traders could focus on the daily resistance level at 0.7807. If this level is breached, next targets could be at 0.7828.
The Stochastic indicator on the 1D horizon points at a bearish market outbreak. Current market sentiment is 55/45 in favor for the bears as well. Short traders could focus on the daily support level at 0.775. If the pair breaches this level, next possible target could be at .7727.
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