Selling pressure has expectedly intensified, and buyers were no longer able to counter it. As a result, the price declined and renewed the local low. Currently, the market is attempting to consolidate at new price levels.

A retest of the broken level is likely, which may lead to further price decline and another renewal of the local minimum. The possible price movement scenario for the near term is shown on the chart.

Thus, wave c of y of a double zigzag is presumably forming.

In this regard, previously opened sell positions should be kept active, and additional positions in the same direction may also be considered.

Recommendations: SELL 1.1535, SL 1.1560, TP 1.1480.