As we can see I have drawn a long red rectangular box, this is a level of supply (a zone where sellers have previously sold of this pair in the past)
if we can get a break out of the supply zone (1.58317) we can take a sell position on this pair and perhaps see it drop to the monthly S3 PIVOT (Support 3)
if we can get a break out of the supply zone (1.58317) we can take a sell position on this pair and perhaps see it drop to the monthly S3 PIVOT (Support 3)