There is a bearish channel currently, so 2 things can occur. Most likely, the pair is going to drop, because of the price rejection on the upper channel line. The second outcome is for the pair to break the line and go up. It shows that the short option is the better option to go with. A safe play would be to short, target 50 pips, and then close. If the pair runs up, then long. You will be able to cover your loss and still make money
Comment:
It's rolling back in, and some supports are building up. Let's see how this plays out