Zoom: Breaking lower from a wedge formation. We look to Sell at 106.91 (stop at 126.13)
Broken out of the wedge to the downside. The medium term bias remains bearish . We have a Gap open at 106.91 from 12/07/2022 to 13/07/2022. Further downside is expected although we prefer to set shorts at our bespoke resistance levels at 106.91, resulting in improved risk/reward. Expect trading to remain mixed and volatile.
Our profit targets will be 61.07 and 50.00
Resistance: 106.91 / 124.05 / 127.37
Support: 97.09 / 79.03 / 60.97
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