There’s a ‘V-Top’ pattern, so the pair is declining. Meanwhile, we’ve got a ‘V-Bottom’, which has been formed right under the Moving Averages.
Previously, we had a ‘Head & Shoulders’ pattern, so it’s likely that the market is going to achieve the previously tested resistance at 0.7163.
If a pullback from this level happens next, bears will probably try to deliver a downward correction in the direction of the Moving Averages.
