This pair was ranging near the end of June and broke down as we entered the trading month of July. After a recent rally, we are seeing a double top
formation signalling that the buyers are no longer in control. The buying strength can be expected to be near over as this pair failed to break a new high. The range boundaries continue to serve as a resistance area
and currently seems to be holding up. I entered short position prior to this week's market close as I strongly see a gap down on Sunday's market open. (It is a Sunday market open for in North America, but Monday for Europe...same thing).