New trend low of 1.2398 Thurs and close below the 200DMA: today 1.2433

First close below the average since March

Daily RSI showing over sold values and 14-day negative momentum holding

We have pulled our 1.2535 offer but still lean bearish

Corrective risk today and we will look for fresh shorting opportunities

Weekly chart heavily bearish, targets 50DMA at 1.2282

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