The strong resistance level at 113.00 forms the last line of defense that the pair may yet reach in a light momentum movement. Only a breach of the 113.00 resistance level will cancel the bearish prediction on the pair.
That said, a basis for a sell position depends a breach of the two central price levels – 112.00 and 111.80. The first, 112.00 support level, represents the pattern's trend line and will form a sell trigger if it is breached downwards. The downwards movement is expected to carry the pair down to the lower support level of 109.40.
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