So initially I was waiting for a pull back to .78500 for this pair before going short. Price has now broken out of the channel and is heading south. Ideally I would like to see a pull back to .76800 before entering which may take a couple of days if it moves back at all. Price has stalled at the yearly low set on 2nd Feb.
I don't advise blindly entering this trade. Please observe price action around this price area and look for a rejection at .78600.