Keep in mind, if price is going to reject a , it usually happens fast. As long as price lingers in this area, or slowly grinds higher, that is a sign of strength. I do not buy highs, I look to sell them, but only under very specific conditions. If the market cannot produce the criteria that I am looking for when it comes to initiating a swing trade short, then I avoid completely.
Buying a breakout here is high risk in my opinion. If I am going to capitalize on the long side, I prefer to take risk at more attractive prices. In this case, I am watching the 1.4115 to 1.4054 area (.618 relative to recent swing) which is a minor support. Otherwise my position is neutral which means I have no position.
Make sure to check out S.C. for updates, because if a swing trade short setup develops, that is where the details will be.