GDP and labor market data in the US exceeded expectations, leading to short-term breakouts and the emergence of new ones with good targets.
Considering that the pair shows a three wave pattern (ABC), where wave A represents yesterday's downward momentum, traders could open short positions with risk set at 1.0980. Take profit upon a breakthrough at 1.08.
This trading idea came from the "Price Action" and "Stop Hunting" methods.
Good luck in trading and don't forget to control the risks! Have a nice day.