This is a follow up to my trade posted mid July and this has been an excellent trade with a 700p drop. The pair has broken two significant levels at 1.7080/60 and 1.6820, but is now somewhat over-extended and bears should wait for a higher price before selling again. The pair is range bound between 1.6600 support and 1.6820 resistance. A DAILY CLOSE above 1.6820 should open up toe 1.7060/80 and a DAILY close below 1.6600 should take the pair down to 1.6340 support zone. We can also expect some possible consolidation before the next move lower and this will be great as it should attract fresh offers.