Observation on the daily chart below,- yesterday's candle is...

Observation on the daily chart below,
- yesterday's candle is sitting on both 1.75 support and trend line support. Based on previous SP action, the SP rebounds after touching the trend line.
- 10th July the SP reached a new all time high (ATH) of 1.79, followed by a 11% retrace to 1.59.
- Friday we reached a new ATH of 1.99, followed by a 12% retrace to 1.75. If the SP rebounds from a small 12% retrace then evidently there's a lot of buyer's behind this.
- If 1.75 doesn't hold, I'd expect the EMA to be the next support at 1.65 (which is a 17% retrace and still relatively small).

GLTA.