Further downside is expected

Further downside is expected


Price broke downside of the upwards channel.
Head and shoulder formation beautifully sits on the fib extension levels. As per H&S measured move I expect to reach price off 126.33

Entry would be at the test of H&S the neck line and stop would be 15pip above right shoulder. Therefore:

Entry 130.40
Stop loss: 131.20
Take Profit: 126.33

RR: 1.74