Thoughts on #FXS:
$FXS continues to move within a well-defined descending channel on the 4H chart, respecting both the upper and lower trendlines with consistent lower highs and lower lows. The recent rejection from the upper boundary and push lower confirms ongoing bearish momentum on $FXS, keeping sellers in control for now.
As long as $FXS remains below the upper boundary around $1.22–$1.25, short setups near the channel top remain favorable, targeting the lower support zone around $1.05–$1.00. A decisive 4H close above the channel resistance would invalidate this bearish setup and could trigger a relief rally toward $1.30+. Until then, the trend bias stays to the downside.
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