In the last short term chart we were successful in taking short which didn't reach the 1st target level but came close.
However, since then, it has bounced strongly in abc in what appears to be wave 4 retracement. The today's gap up open could set the scene for excellent short entry with tight stoploss.
Downside target could be at least retest of the last low or lower still with:
1. Price back into and in the vicinity of iv of one lower degree typical for wave 4.
2. appears to be setting up equal or higher high and price lower high, hence hidden negative divergence.
3. The 1st Target level still remains to be 0.7450 area
4. 2nd Target 0.7250 -0.7150
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