A possibility

Looking at this chart, if indeed we're on an Elliott correction trend here and we see a breakout to the topside around point C, it's possible we might see more upside gain to recoup some of the losses from the last two days of trades. such a situation would put in play an ascending triangle above some of the key battleground S&R levels. Otherwise, it seems that this pair might be poised for more downside movement before regaining any ground depending on where price goes before the European sessions start. As before I think a clear break above 1.3670x rules out downside movement in the short term, but possibly only as a retracement opportunity. I'm still favoring short but looking for a good entry off these correction waves especially given the price consolidation of the last few hours.