We can see that this pair approached a big and is a good place to take a short trade. The is also overbought and I put the SL 30 pips above the high of the wig and the risk:rewar ratio is just insane on this one, so I am very comfortable to take this trade now before waiting for confirmation. You can wait for a break of the channel that I drew just for confirmation to take the trade. If it breaks to the upside it can go as far as the 1.8000 level.
Have a nice trading day :)
Now I am looking for a pullback to go long in this pair