$FIL is currently trading around 1.28, facing strong rejection near the 1.29–1.30 resistance zone after a weak recovery. The price previously dumped sharply and is now moving inside a lower high structure, indicating selling pressure remains dominant. This area is acting as a key supply zone, and failure to break above it increases the probability of another bearish leg. A rejection from this resistance could push price back toward the recent support levels, while only a clean breakout above resistance would invalidate the short bias.

Trade Setup

Entry Point: 1.28 – 1.29

Stop Loss: 1.31

Take Profit:

TP1: 1.25

TP2: 1.22

TP3: 1.18