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The pair is trying to base, but 1.3190 resistance is capping upside and limiting consolidation attempts.
Technical outlook
- RSI: Despite oversold readings, momentum signals remain negative, underscoring a dominant downtrend.
- 50-SMA (4H): Price still above the average, offering some underlying support—hence the mixed setup.
Trade map (wait for confirmation)
- Bearish trigger: A decisive break/4H close below 1.3130 would likely extend losses toward 1.3100, then 1.3075.
- Bullish trigger: A confirmed 1H close above 1.3190 would open room for a corrective push toward 1.3220.
Risk note
Volatility is elevated amid trade/geopolitical headlines. Use prudent sizing and firm stops; reassess quickly if either trigger level gives way.
Trading CFDs involves risks, and therefore all scenarios may be plausible. The information provided above is not a recommendation to sell or buy but rather an explanatory reading of price movement on the chart.
| S1: 1.3135 | R1: 1.3190 |
| S2: 1.3100 | R2: 1.3220 |
| S3: 1.3075 | R3: 1.3255 |
