We observe that the pair has lingered near the level of 1.1270, but the downward impulse remains. The current movement on the 4-hour chart can be considered as the 5th wave. We expect the pair to fall below the current level and head to the level of 1.1210.
Therefore, we advise you to take short positions in the pair and consider as your goals the marks near the level of 1.1210 and 1.1180
Therefore, we advise you to take short positions in the pair and consider as your goals the marks near the level of 1.1210 and 1.1180