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Currently, the pair is hovering slightly above the pattern's neckline at 1.1121. Since this is a bearish pattern in the base scenario, we should see a drop below the neckline towards the 1.10 level. However, the market participants disagree with this argument, as 69.42% of them are bullish on the pair. Very important gauge will be around the weekly S1 and daily S2. If these supports holds then we might see a bullish movements in the near-term.
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