Bearish:  Currently we are @ 1.1833 in a channel. We are looking for a continuation initially to the ATR Target @ 1.1789 and then the 1.270 Fibo/day chart bottom @ 1.1701.  Watch for the bounce there. The average daily true range (ATR) for the pair currently is 103 pips and its 180-day ATR is 99 pips a day.

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