The persistent standoff between sellers and buyers continues with a slight advantage for the former. The price is slowly sliding downward without any sharp acceleration. However, the current wave structure suggests that such acceleration is likely to occur soon. This is due to the development of wave 3 of a forming downward impulse.

Moreover, wave 1 took the shape of a leading diagonal triangle, which signals a strong move in the direction of its formation. Therefore, previously opened short positions should be held, and it is advisable to add more on a break below the local low.

Recommendations: SELL 1.1660, SL 1.1690, TP 1.1500.