[B]Commentary:[/B] Wave 5 within the 5 wave rally that began at 1.3261 is close to an end. The pair is pressing up against the resistance line drawn off of the 6/19 and 7/2 highs.
In the very short term, the pair is tracing out a small wave 4 (within larger wave 5). The 5th of the 5th should exceed 1.3786, if only slightly, before a reversal.
[B]Strategy:[/B] Move to flat (from bullish)