Pair is forming a pattern

At the moment, our pair has found the resistance level at 1.1480 mark and then headed down. Technical indicators point to a purchase, but we believe that the pair is now forming the head and shoulders pattern. At the moment, the second shoulder is being formed.

Therefore, we advise you to wait for the end of the formation of the second shoulder and take short positions. Resistance levels are at the 1.1480 1.1420 and 1.1360 marks.