Im watching this pair close. We have come to last months high, which is also a strong area of resistance. However price has slowly been rising toward breaking this resistance. Obviously nobody knows what price will do but with that said it can give us a probable trade set up. Since its a strong resistance i dont see the pair just blowing through it, seeing how there is weakness in both pairs currently what I will be looking for is a pull back on the 240 time frame to the green line, which is old resistance now support. So just looking for 90 pips or so, I will be closing that short if it works out at the 1.62200 area in hopes of a possible long for continuation to the up side. Not getting ahead of myself just letting you know what im looking for. So if I start seeing a struggle on the 240 to break i will be executing a short position, targeting 1.62200