A break below support at 1.4731 (also hourly 100-MA) could result in a drop to 1.4697 levels. Hourly is below 50.00, which would further add credence to a break. Still, on a larger scheme of things, invalidation would be seen only below 1.4485 (falling on daily).
On the higher side, a break above hurdle (currently seen at 1.4846) would be required to bring in fresh bids.
5th wave truncated
As per study, a truncated fifth wave usually points to reversal of the trend.
5th wave truncation means failure of the 5th wave to move beyond high of 3rd wave. On the hourly chart, 3rd wave high stands at 1.4819, while the next attempt ran out of steam at 1.4825. This is more or less pointing to 5th wave truncation.