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My take is that price looks like it may have accepted both the longer term down channel resistance and that on the more recent upchannel (see area on the blue box), MACD histogram is indicating some weakness with classic divergence. There's a double top in the last few days. I am looking for shorts entries in the 1.2550 -1.2580 area.
I'm trying to go long here, looking for rotation down to 1.2618/16 to get me in. If everything goes wrong I'll be flat between 10/08 Target, a stop run toward 50