On the EURUSD chart, we can see that the pair is testing the 88.6% of the latest swing down Fibonacci retracement 1.16935 level. This level along with the confluence of the previously broken trendlines are providing an upside resistance. This upside resistance is also the downside support near the 1.17000 level
Note: look for the short trade entries still with the stop loss above the 1.17000 level.
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