A level to take a short from around 1.1214 - 1.1218 coincides with the hourly 200 MA and the .50 fib level. A better priced level for a secondary short entry exists at 1.1241. Both level are deeply set within the range that price is approaching which means that by the time price reaches the lowest lows of the range (around 1.1200), momentum will have slowed by the time price reaches one of our levels, making for a higher probability short.