• Wednesday's rally held at 1.5480, just 1 pip ahead the 1.5481 fibo
  
  
• 1.5481 = 23.6% of 1.7192/1.4952 decline from Jul 2014/Jan 2015
  
  
• Prices have been sideways since, support above 1.5400
  
  
• The 200 HMA is climbing higher but pullbacks have not come close still
  
  
• Short in play for 1.5250, just ahead of 40 DMA (break up level of month)