05/05/2021 5.50 pm

The count identified suggests that the pair could encounter some resistance in the coming days. We look at other, tighter time frames to get a better sense of where the pair might be headed.

There is a Fibo (61.8%) that coincides with a previous top. That resistance area could offer good risk-reward for a short position. We will monitor the pair in the coming days and wait for confirmation. This is firmly on our radar screen.