We said last week that this figure seems to be forming by losing 1.481 today. If it continues going down, the next significant support is found at 1.469. However, we can see on the chart the pair hasn't got to the fibo 23.6, hinting a larger decline. To complete the pattern in perfection, the price must go down to the fibo 61.8, at 1.3489.* This figure is known as bearish butterfly

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