Under Pressure
Our Pivot: 1.2255
Our Preference: Short sell below 1.2225 with strict stop loss of 1.2255 and profit target at 1.2200 with extension towards 1.2176.
Alternate Scenario: Upward penetration of 1.2255 will call 1.2285.
NOTE: Euro is being capped by a strong horizontal resistant region along with a descending trend line.
Chart with supports & resistances:
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