The 4h chart shows a break and test at a price of 1.0825, confirming a resistance level of Fibo 0.236. At 1h chart the level is rejected by pinbar or “falling star”, also a good sign for continuation of the bullish trend.
After opening the market and closing the next 1h the bullish bar will be a signal to enter SHORT. The SL can be placed above the 1.0888 resistance level and the target is the lower daily trend line earning about 160 pips.
Alternative scenario – price correction testing 50/200 MA, Fibo 0.382 and the downward trend line.
Trader Georgi Bozhidarov