On the other hand, the price zone of 1.1520-1.1420 stands as a prominent demand zone to be watched for bullish rejection and possible bullish pullbacks.
Bearish breakdown of 1.1520 is needed allow a further decline towards 1.1420. The next bearish target would be located around 1.1275.
For the major reversal pattern to be confirmed, a quick bearish breakdown below 1.1420 will be needed to gain enough bearish momentum.
The material has been provided by InstaForex Company - www.instaforex.com