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The pattern started when the pair dropped from 79.039; currently it is trading at pattern's support at 79.399. Long traders, who expect the pair to resume its move towards pattern's resistance, could focus on daily pivot (PP)/Fibonacci retracement (61.8% of move since 19th of September) at 78.518/543, daily pivot (R1)/Bollinger's band at 78.727/752, daily pivot (R2) at 78.931 and daily pivot (R3)/pattern's high at 79.140/224.
Short traders, who think that this pattern might be only bullish correction and pair will resume depreciating again, could focus on 20 bar SMA/Fibonacci retracement (50%)/daily pivot (S1)/200 bar SMA at 78.351/300, Fibonacci retracement (38.2%)/daily pivot (S2) at 78.122/105 and Bollinger's band/daily pivot (S3)/.Fibonacci retracement at 77.951/862.
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