As mentioned here another drop could be expected. The decline from 1.4781 unfolded in 5 waves so the most likely scenario is that this is wave 1 of larger wave 3. We've already seen a rally followed by a 3-wave decline so I reckon a 3-wave rally (wave Y of larger wave 2) is in the cards now.
When you count this as a flat we should see 5 waves up in a C-wave, either way it should sail back towards 1.4743 for me to be interested to add on to the trade.
Above 1.4781 would invalide this count.
