This is a fade against the wick, not a trend call. Price rejected at 0.1423, the exact high of today's breakout candle, and pulled back to 0.1331 on the same candle. That's the first sign of hesitation after a month-long range broke to the upside.
Invalidation is a close back above 0.1450. That would mean the breakout candle's high held as support on a retest, and the fade is dead.
Target zone is 0.12, the top of the old June-July range. That level flipped from resistance to support today, so it's the logical spot for a pullback to stall.
Trend underneath is still bullish. SuperTrend, EMA50, and EMA200 are all well below price and unbroken.
Treat this as a short-term scalp against a wick, not a reversal call.
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