Agree with your idea. 0.922 is the first support to break and if it gives up today - we will see 0.918 where a bounce up can occur again before a move further down to 0.908
Price came down 1 day later, and broke 0.922 only today after UK sales report. Price is not going to drop at a fast rate although all UK data from the last few reports was good. The lowest we can go today is 0.9165 but 0.918 should stop the fall. It will take around 2 weeks (at least) before we can reach 0.905-0.895 levels as buyers are not giving up easily.
stanchiam
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@Erland, possible, your 0.918 is similar to my initial TP, but from waves, it still has potential for bigger fall, am holding rest of position until further update