The price is hitting new 15-month lows.
I wrote last Thursday that we were seeing a clear and flat wide-ranging consolidation between $1.3458 and $1.3273. I thought it was very likely that the price would remain within this range over the day and that it may be worthwhile entering a trade from a bearish reversal very close to $1.3458 even if the level was not quite reached – the half number at $1.3450 could also be good.
partly due to the economic fallout over the sanctions against Russia and energy supply issues, and partly due to the fear of a full-scale war in Europe between NATO and Russia breaking out. It is very hard to see how this pair could have a meaningful up day unless there was a realistic prospect of a peace agreement emerging, which seems very unlikely.