The pair has reached past 4 months highs of 1.120 where it has been rejected by the weekly trendline at that are. The pair is currently overbought but we can expect it to test the 1.100 are again before it fall further. It could be a huge opportunity for a sell position if it plays nicely with the combined drop on the DXY. If it forms the second leg of an M on the 4hr time frame we can enter for a sell position near the 1.100 area. There is an M formation on the weekly , daily and 4hr time frame !!!