A correction is nearing the end.
Assumingly, a formation of a “bearish” correction as the fourth wave, which has taken the shape of a flat (a)(b)(c), is nearing the end. Locally, a development of wave (c) of iv seem to be nearing the end, and if the assumption is correct, it is logical to expect a growth in the fifth wave towards 0.7470-0.7500. A critical for this scenario is the level of 0.6933.
Wait for the correction to finish and buy the pair above the level of 0.7100 with the target at 0.7470-0.7500.
The breakdown and consolidation below the level of 0.6933 would allow the pair to decline to 0.6800 and lower within a “bearish” trend of the senior level.