On the weekly chart, we can see any break above the falling level has been met with offers. Each time the pair failed, we have seen at least 500-600 pip fall before another attempt was made. Moreover, on a weekly closing basis, the has never been breached. Hence, a day end closing above the level needs to be treated with caution.
move would gather steam once the is breached on weekly closing basis. Also note that rejection at the could yield another 500-600 pip fall. This means a drop to 1.41-1.40 levels from the current resistance of 1.46 levels