The pair has formed a diamond pattern, which is very rare. The pattern is favorable for bears. The price can take a break down from the current level or can first move up to 1.10532 before any bearish
move. The tp for the trade is at 1.09685. If we get a daily closing below this support, we can look at 1.09 as the next target. For the entire trade setup, the stop loss can be set between 1.10532 – 1.10755 area, preferrable close to the upper level.