I'm looking for at least a 3 wave correction for a new sell opportunity. In the ideal scenario we saw a wave A completed at 0.7060 with wave B currently in progress. Wave C should complete the correction/consolidation by means of a test of the triangle line. Keep in mind that later today we have FOMC on the agenda which will likely increase .
However if we see a 3 wave correction followed by a break out of the consolidation I will sell this pair.