I am shorting to 1.1185 with a stop at 1.1238.

2016Sep23 I am shorting to 1.1185 with a stop at 1.1238.

My stop is 10 pips above the most recent swing high and my target falls on the 61.80% fib retracement level that is located just above the support range that started forming on 2016Sep19, 14:00 est.

I do not believe there is any reason for the pair to move higher.

Further retracement after the most recent climb is likely.

The RSI is somewhat high.

Comment:

Fail. My stop was short by 1 pip.

Comment:

Well perhaps more than one pip.