is consolidating after another impulsive bearish
move which wiped over half the gains of the corrective bull
move in short order. We're interested sellers on a bearish
break of the horizontal channel, which would also be a break of the 61.8% fib of the corrective bull
move, providing further confirmation that the sellers are still in control of this market. On the other hand, if the pair does break higher, a break of the 1.5916 highs will signal that buyers may be getting ready to turn this pair around.