The price around 1.5300 marks the upper limit of the consolidation pattern above 1.5075. Hence, formation of a lower high around 1.5220, followed by breakdown below 1.5075, is enhancing the bearish sentiment of the market.
Also the daily closures, which were observed last week, imply continuation of the sell-off afterwards provided that the pair remains below 1.5075 (the lower limit of the range). However, reconsolidation above 1.5075 enables the pair to make corrective bullish move towards 1.5160 then 1.5200.
The bearish breakout, which took place last week, is targeting 1.4880 which was hit yesterday.
The first strong support will then be encountered at 1.4855 if the current bearish movement remains intact this week.