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The pattern started when the pair bounced from 1.0201 and after testing resistance levels at 1.0352 and 1.0302 it has slowed down at 1.0284 where the pair is currently trading. Pattern support and resistance lines intercept on 15th June at the level of 1.0278. Indicators on aggregate do not suggest any clear emerging trends on the 1H and 4H time horizons, but the Stochastic indicator on the 1H time horizon points at a bull market outbreak. Current market sentiment is 90/10 in favor for the bulls as well. Long traders could focus on the daily resistance level at 1.0299. If this level is breached, next target could be at 1.0313.
Indicators on aggregate point at a bear market outbreak on the 1D time horizon. Short traders could focus on the daily support level at 1.0267. If the pair breaches this level, next possible target could be at 1.0252.
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