Commentary: If indeed an ending diagonal is unfolding from 1.4015, then wave iv of the diagonal should be underway now. A potential end for wave iv is at the 50%/61.8% retrace levels of 1.4125-1.4439 at 1.4282 and 1.4245.
A new high in wave v of the diagonal is expected to then complete the diagonal. If a more bullish structure is unfolding, then price will exceed 1.4439 before coming under 1.4279. That would make the rally from 1.4125 an impulse but a correction lower would be expected to unfold. (Diagonal scenario shown on chart)
Strategy: Remain bullish, move risk to 1.4279 (from 1.4188), Target TBD.