There were just a few changes in the pair under consideration over the past trading day. The price is still in a narrow range, hesitating to make a good directional move. Meanwhile, the probability of a decline in the formation of wave (iii) of the downward impulse remains. Consequently, the situation remains bearish.

It is recommended to open sell trades after the price breaks out and fixes below the minimum of wave (i), indicated on the above chart by the red horizontal line.

Investment idea: sell 109.10, stop loss 109.30, take profit 107.50.