The pair declined sharply yesterday to complete the formation of the double top shown above, especially after the breach of the neckline at 127.10. The pair is stable below the retest level of 125.65, providing more bearish signs that support the continuity of the downside movement today . Our main target is the retest level of 123.75. A breach of 125.65 might trigger a retest of the previously breached neckline at 127.10.
Recommendation : Based on the charts and explanations above, our opinion is selling the pair around 125.65, targeting 124.70 and then 123.85 and stop loss with 4-hour closing above 126.65 might be appropriate