Breakout above the neckline resistance zone 1.82 to 1.80 confirmed the reverse head and shoulders pattern. Strong buying has powered the rapid flight of price towards the target price zone of 1.95 to 2.00 and expect profit taking at this region.
Pullback towards 1.91 to 1.89 support zone expected if buying interest wanes and further weakness may see a retest of 1.87 to 1.85 support zone. Major support is the former neckline resistance turned support zone as seen on the hourly chart.
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