Price has been moving in this for weeks and respecting the . the last couple of days has been the first real break, is this a fake out, surge for liquidity or is this change of trend.
For me I want to see a clear break below the and a clear rejection before taking any shorts. We did have what looked like a break and retest only for price to crawl back higher. There was some confluence when price came close to the 0.618 fib and then moved higher.
Currently we are in a channel between the bottom of a 4hr wick zone and the top of a 1hr wick zone. If we break above and reject the 1hr zone we could see a retest of highs around the 1.18400 area which would give the ideal place to short if we get the right rejection / exhaustion from this area.
Time to sit and watch and see if there can be more confluence added rather than just rejection.