The price has now consolidated below the intermediate resistance of 1.5625. There’s a high possibility of the bounce down and continuation of the bearish trend.

Potential decline targets are situated at: 1.5515, 1.5467.  Alternative scenario: correction up from strong 1.5690 resistance is probable.

By Theodoros  Batsoulis
Technical Analyst
Risk Market
www.riskmarket.co.uk