1 hour cycle is bearish against the 7/14 highs at 1.3481, and 15 minute cycle remains bullish against 10/6/2016 low (1.195). Pair ended cycle from 3/14 low and while bounces stay below 1.297, pair has scope to turn lower again 1 more leg to correct cycle from 3/14 low before turning higher again. I prefer to stand on the sidelines.