We are closing the massive gap from this past weekend. This is an area that I will start to look to build into a short position. Building into a short position means taking much smaller position sizes than normal and buying/selling at different levels. For example, the current 1.1146 could be my first position (25% of normal position size) with 1.12 being my second area and so on. The invalidation point for me will come with a break above the current triangle.
DISCLAIMER: Be very careful on this pair. The Greece headache continues and there is a lot of volatility
ahead in this pair.