Setup Timeframe: 4H
Execution Timeframe: 4H
Risk: 3%
Reward: 7%
Reasons for Entry: Pair broke down through a major support area on the daily chart, and the retest of this support lined up with a 50% fib level.
Reasons for SL placement: Right at the 78.6% fib level and above the broken support and above the 50 EMA.
Reasons for TP placement: At the -0.27 fib extension level.