A significant range break driven by a key day reversal

A higher high, lower low and close clear below previous close

Bear targets now include a key 50% Fibo at 1.2145, off 1.1842-1.2447

The daily cloud top is at 1.2140 just below: 1.2088, Jan. 12 low in the mix

Move abv 1.2288 might trigger a squeeze but level might also attract offers

We lean bearish but will monitor any corrective rebound for an entry point

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