If the pair pulls back to the 1.988 area there could be the potential to go short.
Reasons to short -
Trend is bearish Returning to a major SR level (blue line) The previous time it was at this level there was a strong sell off, and it is the first time it could return to this area (upper yellow box) A confluence of fibonacci levels from previous highs (inside or close to the upper yellow box) Good risk to reward ratio