Over the last 4 weeks the pair has attempted to break through the trend line just below the R1 level (the horizontal line) here you can see clear break through failed attempts before retracting back around the Second support area. This analysis is all based on daily pivot points and using solid trend lines only. A good sell opportunity is emerging, with the first take profit level at 0.87670 and a second take profit level at 0.87400 (S3)