During the past trading day, the situation with the observed currency pair has remained practically unchanged. The price stayed within the boundaries of a small correction, likely forming wave 2 in the emerging downward impulse.

At the moment, this wave appears incomplete. Therefore, we are unlikely to see any directional movement in the near term. Most likely, the price will continue moving within a certain range, roughly as schematically shown on the attached chart.

Following this, a strong impulse movement downward is expected, during which wave 3 will form. A signal for entering sell trades could be the breakout of the wave 1 minimum.

Recommendations: Sell 154.75, SL 155.00, TP 150.00.