From the chart above we can easily see the new support level that the the pair already found at 1.6467 all we need is a four hour close below this level to give the pair strong bearish momentum ? from another point the pair on daily is trading around SMA 20 so it may find strong support and pullback toward 1.6750 add to that we had several separated support levels around 1.6430....
Recommandations : Upon the chart and the explanation posted above , my recommendation is selling the pair with a four hour closing below 1.6467 targeting 1.6165 and 1.5936 and stop loss 1.6585 , or buying the pair at 1.6470 targeting 1.6750 and stop loss 1.6415 if you wanna risk a bit , you don't have to take the second option !! but you are risking 60 pips for 300 almost nothing !!