Two supply zones stand out on the H1, and one of them is the cleaner short. The higher zone, drawn between 1.0884 and 1.0871, is the origin of the impulse leg that broke down on April 28th — strong reaction, low time spent inside, no return. That is where institutional sell orders likely remain.

Below current price, the unfilled fair-value gap from the same impulse sits at 1.0832 – 1.0826. It has not been mitigated. If price rallies into the upper supply and the gap is your downside target, the reward-to-risk runs roughly 1 : 2.6 on a stop above 1.0892.

I have drawn both zones, the FVG, and a Fibonacci retracement from the swing high to the most recent low. Watch for a reaction at the 0.618 / 0.705 confluence — that is where the cleanest entry has historically lived on this pair.