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The pattern started when pair rebounded from 0.7562 and after bouncing between 0.7501 and 0.7603 it has slowed down at 0.7588 where the pair is currently trading. Aggregate indicators suggest an emerging bullish trend at 4H time horizon. Long traders could focus on the resistance level at 0.7593. If this level will be breached, next target could be at a daily high at 0.7603.
Aggregate indicators on the 30M horizon strongly point at bearish market outbreak. Moreover, this is supported by current market sentiment which is 70% bearish. Short traders could focus on the daily support level at 0.7563. If the pair breaches this level, next possible target could be at 0.7553.
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