Let's start off with a weekly chart
Since the September last year pair has formed an uptrend channel. Recently bounced off of the resistance near 1.40 level. Currently trades within the last weeks range. Through the candle combining we can see that last 4 candles create a bearish pin bar signaling sharp shift in sentiment. Now the first thing to look for will be the breakout below the low of the last week. Too see a better picture look at the daily chart
Here I would suggest two entry scenarios. The most conservative method would be to go short below the current support at 1.3705 level or below 1.37. The more aggressive option is to wait for some candle formation to indicate that selling power is building up near one of the two previous supporting trend lines, blue being more important than the brown one. If there is enough selling then first target is 1.36, second target - 1.3450 and the third 1.33. Anything below that would indicate a potential reversal on a larger scale.
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