There were almost no changes over the last trading day for the pair under consideration. The price rose quickly after a zigzag decline and remained at these price values.

All this movement was probably due to the development of wave (ii) of incipient downward impulse. Therefore, a good impulsive decline in the pair is expected in the near future due to the formation of wave (iii).

Investment idea: sell 110.20, stop loss 110.45, take profit 107.00.