The price corrected down strongly yesterday. We should note that the move was pretty sharp and on large volume, so our previous scenario is questionable at the moment. Also we need to point out the new resistance level 114.20, which is a local maximum the price started falling from exactly this level. So we can consider long positions only after a breakout of the fresh resistance. A stop loss should be placed below the breakout volume bar. A potential of the deal is more than 110 pips. As for short positions, we can consider them after a breakdown of the support 111.73 - 111.86.
The bottom line: long positions can be considered only after a breakout of the resistance.
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